MCC PTA India Corporation Private Limited, a subsidiary of Japan's Mitsubishi Chemical Corporation, on Friday said it has expanded the production capacity of PTA from 4.7 lakh tonnes to 1.27 million tonnes with an investment of around Rs 1,900 crore.
Purified Terephthalic Acid (PTA) is used to make polyester.
President and CEO of Mitsubishi Chemicals Corporation and Mitsubishi Chemical Holding, Yoshimitsu Kobayashi said after expansion the Haldia plant has become Mitsubishi's second largest PTA plant in the world after South Korea.
The South Korean plant, which comprises of four production lines, has a capacity of 1.6 million tonnes per annum, he said adding that the Haldia plant now would be the single largest production line of the company.
Managing director of MCC PTA Yoshihito Ikegawa said the expected turnover post expansion for a full financial year is around Rs 5,000 crore.
In 2008-09, the company's annual turnover was Rs 1,600 crore.
He said the company expects to capture a market share of 60 per cent in the merchant PTA segment.