EXIM Thailand Finances Polyplex Groups Construction of New PET Film Plant in Indonesia

Stocks and Financial Services Press Releases Thursday September 6, 2018 11:25
Bangkok--6 Sep--EXIM BANK

Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), jointly with Mr. Pranay Kothari, Group CEO of Polyplex Group, signed a financial facility agreement worth 55 million US dollars, committing EXIM Thailand to support the construction of a new PET film plant of PT. Polyplex Films Indonesia Co., Ltd., a subsidiary of Polyplex Group, on September 5, 2018 at EXIM Thailand's Head Office. The new plant, located in Indonesia with a production capacity of 44,000 tons/year, was established to meet greater demand for PET film in ASEAN's largest market and will export its products to other countries such as South Korea, the US and the EU.

Polyplex Group is a leading Thai manufacturer and exporter of PET film products which are used mainly in food packaging, electrical insulation and other industrial end-use segments. This credit facility to finance the construction of Polyplex Group's sixth plant (in addition to the existing five plants in India, the US, Turkey and Thailand with a combined PET film production capacity of 214,800 tons/year) is in line with EXIM Thailand's mission to enhance Thai entrepreneurs' competitiveness in investment-induced trade of the new era. The Bank is ready to support Thai entrepreneurs' investment in and construction of production bases overseas to penetrate targeted markets and build more diversified trade channels. This aims to nurture the growth of high-potential Thai entrepreneurs so that they could subsequently become multi-national companies like in developed countries, generate foreign exchange income for the country, paving the way to develop manufacturing industries and trade and investment in the new business world.

For further information, please contact Corporate Communication Division, Secretary and Corporate Communication Department
Tel. 0 2271 3700, 0 2278 0047, 0 2617 2111 ext. 1141, 1144

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