Indorama Ventures Public Co. Ltd. announced the permanent cessation of operations at its purified terephthalic acid (PTA) plant located at the TPT Petrochemicals complex in Map Ta Phut Industrial Estate, Rayong, Thailand.

The shutdown took effect March 2, 2026 and affects one of three sites within the TPT Petrochemicals facility.

According to the company, the decision followed a strategic review of the site in response to structural changes in the industry and the company’s long-term portfolio and capital allocation priorities.

The company said the move is part of a broader portfolio optimization strategy focused on strengthening earnings quality, cash resilience and long-term competitiveness.

Indorama Ventures stated that the closure will not affect operations at its other sites, supply continuity or the company’s ability to meet financial obligations. The company also said the decision is not expected to have a material adverse effect on consolidated financial performance.

The impairment provision related to the facility was recorded in the company’s 2022 financial results.

Indorama Ventures said employees affected by the shutdown will be supported in accordance with applicable labor laws and company policies.

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