PTTGC Meets Leading Foreign Investors As It Aims To Expand Petrochemical Industry Investments In EEC

Announced Date :  Sep 12, 2017

PTT Global Chemical Public Company Limited (PTTGC) is using its 30 years of expertise and capabilities in the petrochemical industry to encourage partnerships with Japanese companies and foreign investors for projects in Thailand’s Eastern Economic Corridor (EEC), building strength in innovation and technology that will drive local industry along with future economic, social, and environmental sustainability.
Mr. Supattanapong Punmeechaow, President & Chief Executive Officer of PTT Global Chemical Public Company Limited, was a keynote speaker at the recent “Thailand 4.0 Towards Connected Industries” symposium, which took place to mark the occasion of the 130-year anniversary of Thai-Japanese diplomatic relations. He spoke on the topic “New Emerging Opportunities in the Thailand-Japan Partnership,” saying that PTTGC, as PTT Group’s chemical flagship, has operated petrochemical businesses for over 30 years since it was established on Thailand’s Eastern Seaboard, which has emerged as the country’s industrial center. 

The 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 USD of incomes.

PTTGC 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 USD. 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 aims to invest in a group of 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 include:

1) The Map Ta Phut Retrofit project: This project will improve 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.

2) PO and Polyols & PU System project: PTTGC has just signed a joint venture with Sanyo Chemical Industries Ltd. and Toyota Tsusho Corporation to establish GC Polyols Company Limited to produce polyols and a polyurethane (PU) system for high value-added products for downstream businesses. This will meet the demands of high-potential industries in anticipation of increased global economic growth. 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.

3) High-Heat Resistant Polyamide-9T (PA9T) and Hydrogenated Styrenic Block Copolymer (HSBC) project: PTTGC recently signed a Key Terms Joint Venture Agreement with Kuraray Co., Ltd. and Sumitomo Corporation (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.

4) Biocomplex: PTTGC is committed to operating its petrochemical business in an environmentally-friendly manner, so has designated subsidiary Global Green Chemicals Public Company Limited (GGC) to be its green flagship.

PTTGC’s investments are focused on sustainability using the 2E1S (Economic-Environmental-Social) model, which consists of “economic” by investing to create employment, “environmental” by investing through GGC and using environmental technologies, and “social” to take care of communities and society, and promote education. The company was also involved in establishing the Vidyasirimedhi Institute of Science and Technology (VISTEC) in Thailand’s Rayong province to promote research and development in technology.

PTTGC is actively seeking to partner with complementary investors from Japan and other countries. The company’s advanced technologies and long experience, combined with PTTGC and its partners’ expertise in product development, marketing, distribution, and logistics to every region of the world, will be the key to success for investment projects in the EEC and New S-Curve industries in line with the government’s Thailand 4.0 policy.

You can receive free Monthly news and insights from ResearchViews delivered straight to your inbox – sign up below:

* Indicates Mandatory
*Phone Number:          
  captcha refresh
Enter Captcha Code:    

Send to friend

*Your EmailID:    
*Friend's EmailID:    
  captcha refresh
Enter Captcha Code: