The Indorama group's CEO is confident that his company can solve the chemical leak problems that have caused a bad smell in Map Ta Phut area by the deadline set by the Industrial Estate Authority of Thailand. Following an acetic acid leak at Indorama Petrochem, the Industrial Estate Authority of Thailand or IEAT ordered the suspension of waste disposal in order to prevent any further impact on the local community. The company has been ordered to get rid of the bad smell caused by the leak by February 15 or its factory will be closed. Reportedly, the chemical leak at Indorama Petrochem, which is part of Indorama Ventures, or IVL, happened on December 24 and 25 at Map Ta Phut Industrial Estate in Rayong province. Group Chief Executive Officer of Indorama Ventures, Aloke Lohia, expressed confidence that the problem would be solved before the February 15, the deadline ordered by the IEAT. IVL will sell 1,000 units of stock at 10.20 baht each at its initial public offering scheduled for January 25th, 26th and 27th. At the earliest, the group's stock will be traded on Thai stock market during the first week of February. IVL group currently operates two polyester factories with a combined annual production of 240,000 tons. The company posted 7.526 billion baht in revenue during the first nine months of last year. The company aims to increase its revenue by 15 percent this year.
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