Huntsman Chemical Corp. and Continental Grain Co. will build a packaging facility in Goa, India, in a joint venture with Supreme Industries Ltd. of India.

The $8.4 million business, to be called Huntsman Supreme Ltd, will produce polystyrene foam and food packaging containers. The plant will have the capacity to produce 800 million pieces annually, starting at 200 million pieces per year."Huntsman Chemical Corp. has been interested in the Indian market for years. There is a definite need for this product in India and this will be the only polystyrene foam packaging facility in the country," said Ronald Rasband, president and chief executive officer of Huntsman Chemical Corp. Groundbreaking for the facility has been scheduled for January 1995. Huntsman and Continental Grain, headquartered in New York City, will own 50 percent of the facility. Supreme Industries will own the other half and will operate the plant. Supreme's existing foam and food packaging operations will be rolled into the new plant upon its completion.

In 1993, Huntsman Chemical Corp. teamed with Continental Grain in a joint venture to build a foam and food packaging plant in Beijing, China. Continental Grain is a food, milling, commodities and financial services company with businesses in nearly 60 countries worldwide. With annual revenues of more than $12 billion, it is the fourth largest privately held corporation in the United States.

Supreme Industries Ltd. is the leading petrochemical company in India and is currently building a polystyrene plant in that country using technology purchased from Huntsman Chemical Corp.

Huntsman Chemical Corp. is the largest privately held chemical company in the United States. Other companies in the Huntsman group include Huntsman Corp., Huntsman Specialty Chemicals Corp. and Huntsman Packaging Corp.

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Its companies are major producers of polystyrene, styrene monomer, phenol, polypropylene, ABS, SAN, phenolic, polyester and compounded resins.

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