Dow Chemical Co. and Siam Cement PLC, Thailand's largest industrial group, have entered a JV to build a US$1.1 billion naphtha cracker plant in Rayong province on Thailand's eastern coast. Under the signed letter of intent, Siam Cement holds a 67% stake in the project, which will be capable of producing 900,000 tpa of ethylene and 800,000 tpa of propylene, using naphtha, condensate, and LPG as raw materials. Construction of the plant is expected to commence early next year and is scheduled for operation start-up in 2010.
Siam Cement also plans to invest US$400 million in a new downstream facility using olefins derived from the cracker, with a capacity to produce 300,000 tpa of high-density polyethylene and 400,000 tpa of polypropylene, also starting in 2010.
10-Nov-05 
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