Thai Olefins plans epetrochem expansions

Thai petrochemical producer Thai Olefins PCL's second plant is expected to commence operation early this year, raising the company's total capacity for ethylene to 685,000 tpa from 385,000 tons, and propylene to 240,000 tpa from 190,000 tpa. With this increase in production capacity, the company's revenues are expected to jump to THB30 billion after 2005, from the current THB22 billion. Another expansion expected to be completed in Q3 -2006 is in the pipeline. Thai Olefins plans to invest in a US$140 million project to increase capacity of ethylene by 130,000 tpa and propylene by 120,000 tpa. A monoethylene glycol (MEG) plant, at an investment of US$ 210 million is scheduled for completion in Q2-2006. This plant, with a capacity of 300,000 tpa, will be Thailand's first MEG production facility, and is expected to generate annual revenue of THB7 billion-THB8 billion a year.
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