Dow to invest US$350 mln in Thailand

04-Dec-06

To strengthen its' presence in Asia-Pacific, Dow Chemical plans to invest US$350 mln in a number of downstream petrochemical projects in Thailand. Feedstock for the projects- ethylene and propylene will be produced from a US$1.1-billion naphtha cracker now under development with the Siam Cement Group, Thailand's largest industrial conglomerate. The naphtha cracker at Map Ta Phut, Rayong, in which Siam Cement will hold a 67% stake and Dow 33%, is expected to begin commercial operations in 2010. Dow plans the investments over five years to develop a range of higher-margin business opportunities in Thailand. The project investment seems intended for a hydrogen peroxide-to-propylene oxide (HPPO) plant and a facility producing a range of propylene oxide derivatives Siam Cement, Dow's longstanding business partner, will be given the first right to take part in the downstream petrochemical projects.