BANGKOK, March 5 (Reuters) - Thailand-based chemicals company Indorama Ventures (IVL) plans to shift from debt-funded acquisitions to funding growth organically, its founder and CEO Aloke Lohia told Reuters on Tuesday.

The announcement comes after the company, which is among the world's largest petrochemical makers, posted its worst financial results in 2023, booking losses of $310 million versus profits of $884 million in the year before.

Lohia said IVL was making a "significant pivot" after structural changes in the chemicals industry since the pandemic, and aims to lift its earnings before interest, taxes, depreciation, and amortisation (EBIDTA) to $2.1 billion by 2026.

As part of the pivot, the company will bring debt down by $2.5 billion to around $4.3 billion in 2026, sell off non-core assets worth $1.3 billion and eliminate six high-cost assets, he said in an interview in his Bangkok office.

IVL will optimise major assets mostly in Europe and list its businesses to raise funding to service debt. Lohia said its integrated oxides and derivatives business may be listed "somewhere in the West" while its packaging business may be listed in India or elsewhere in Asia, for a total of $1 billion.

(Reporting by Chayut Setboonsarng, Edited by Kanupriya Kapoor)