PTT, Asahi, Marubeni sign MOU for petrochem JV

24-May-06

Thailand’s PTT, Asahi Kasei Chemicals Corporation (AKCC) and Marubeni Corporation, have signed the Memorandum of Understanding (MOU) on the Bt20-billion joint investment project for a 200,000 tpa Acrylonitrile (AN) and 70,000 tpa Methyl Methacrylate (MMA) in Thailand. The three companies have entered the agreement to set up PTT Asahi Chemical Co., Ltd. with the shareholding structure at 47.5%, 47.5% and 5% by PTT, AKCC, and Marubeni Corp respectively.PTT and Asahi Kasei have also agreed to conduct a joint feasibility study on the production of Poly Methyl Methacrylate (PMMA) by using MMA as feed stocks. This joint cooperation will help strengthen the companies’ competency in petrochemical business as well as create more value toward the country’s natural gas and benefit Thailand by as much as Bt15 billion per year through export increase of petrochemical amid import reduction of raw material.