Well, I can't tell you the best way to produce that kind of material, since I don't produce it as an industrial unit. But I know that there are three traditional ways to produce polypropylene.
Gas phase process, bulk process or hydrocarbon slurry.
About the profitability, I'd rather take a look at which technologies some companies are already using. For example, Dow Chemical uses Gas Phase Process, while Exxon and LyondellBassell uses Bulk phase process.
http://en.wikipedia.org/wiki/PolypropyleneI've read some news and they said that US Gulf Coast seems to be a good place for a plant, since there's a lot of chemical plants over there. I think you should search about these plants to know what method they use over there.