Indorama Polyesters Industries Plc (IPI)'s plant in Rayong was suspended from operations this morning, pending investigation by the Industrial Estate Authority of Thailand following a brief fire last night.
The fire at IPI, owned 98.7 per cent by Indorama Ventures Plc, burned one of six boilers. It lasted for 30 minutes before it was put out.
DBS Vickers Securities (Thailand) said in its report note that it was informed by the company that the normal operations could be resumed as soon as it receives the permission from the IEAT, and that the plant is fully insured.
IPI has total capacity of 252,000 tonnes - 108,000 tonnes for PET and 144,000 tonnes for polyester fibre.