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Friday, March 29, 2024

Indorama Ventures sees its revenue rising by up to 10%

Firm says demand for its chemicals is rising

An IVL-owned factory installed with rooftop solar panels to support the company’s carbon neutrality campaign.

Thailand-based chemical producer Indorama Ventures Plc (IVL) expects its revenue to rise by 5-10% in fiscal 2023, driven by growing demand, despite the prospects of a global recession.

The company earned US$18.8 billion in fiscal 2022.

Aloke Lohia, group chief executive of IVL, attributed the revenue growth to demand for essential chemical products, population growth, and new investment projects.

“IVL sees opportunities in the global chemical market, driven by consumers’ demand,” he said.

The company is aware of the risk of a global recession but…

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