Thailand: Petrochemical Industry Thailand's PTT Global Chemical Woos Foreign Investors
At the recent “Thailand 4.0 Towards Connected Industries” symposium, PTT Global Chemical encouraged partnerships with Japanese companies and foreign investors for projects in Thailand’s Eastern Economic Corridor (EEC).
Bangkok/Thailand — Thailand's Eastern Seaboard has become a global manufacturing base that has attracted comprehensive investments starting with upstream industries, such as refineries and petrochemicals, through to a wide range of downstream industries including integrated chemical and plastic manufacturers.
The Eastern Seaboard is an important location for Thailand’s thriving new S-Curve industries, which will support a renewed economic structure to build new industries, employment, and generate over $ 3 billion of incomes.
PTTGC announced that it plans to invest in industries that support the EEC over the next five years that are focused on innovation and advanced technology and are also environmentally friendly.
Total investments in the EEC, to move towards the new S-Curve industries in line with the government’s Thailand 4.0 policy, are expected to be in the range of almost $ 4 billion. Among these industries are next-generation automotive, smart electronics, bio-fuels and bio-chemicals, robotics and automation, transportation and aviation, medical, food processing, and digital components.
The company plans to invest in several projects within the next 1 to 2 years to strengthen the competitive advantage of its existing businesses by attracting partners that have advanced technology to co-invest in projects with PTTGC.
PTTGC’s current investment plans for the EEC includes the Map Ta Phut Retrofit project: This project is aimed at improving the efficiency and competitive advantages of PTTGC’s plants in Map Ta Phut. Construction of a naphtha cracker plant will provide production capacity of 500,000 tons/year for ethylene and 250,000 tons/year for propylene.
Joint Venture Agreement with Sanyo Chemical and Toyota Tsusho
A joint venture with Sanyo Chemical Industries and Toyota Tsusho to establish GC Polyols Company to produce polyols and a polyurethane (PU) system for high value-added products for downstream businesses. A new plant, which is scheduled to begin operations in 2020, will have an annual capacity of 130 kilotons of polyether polyols and 20 kilotons of polyurethane (PU) systems.
Joint Venture Agreement with Kuraya and Sumitomo
A third project includes the High-Heat Resistant Polyamide-9T (PA9T) and Hydrogenated Styrenic Block Copolymer (HSBC) project: Key Terms Joint Venture Agreement with Kuraray and Sumitomo (SC) to study this project in detail. The project, for which raw materials will be provided by PTTGC, will produce an estimated 13,000 tons/year of PA9T and 16,000 tons/year of HSBC.