The decision was taken to manage the challenging environment related to cost inflation, high interest rates, and labor shortages. The partnership will also evaluate possible ways to efficiently prioritize or phase completion of the plant, maximize use of invested capital, and minimize excess expenditures to provide an efficient and competitive supply solution to customers.

Indorama Ventures and its joint venture partners will continue to assess options to optimize the project. They will fund costs required to preserve and maintain CCP’s assets in preparation for the resumption of construction. In the interim, Indorama Ventures will continue to meet the demand from its customers in a robust manner from its vast network of local and overseas capabilities.