PTT Global Chemical to conduct detailed study for proposed US$1 bln polyurethane complex in Rayong

18-Aug-15

PTT Global Chemical says its board of directors has agreed for the company to proceed with a detailed study on a plan to build a US$1 bln (Bt35 billion) polyurethane complex in Rayong, as per The Nation. PTTGC had agreed with Toyota Tsusho Corp and Sunyo Chemical Industries to undertake an engineering and design study on two petrochemical projects. These would be a 200,000 tpa propylene-oxide joint venture with TTC and a 130,000 tpa polyether-polyols joint venture with TTC and Sunyo. PTTGC and the two Japanese companies signed a memorandum of understanding early this year to undertake a feasibility study on the two projects. The preliminary study set the investment criteria of the three companies, which have now agreed to pursue a detailed engineering study to conclude the investment costs before making a final decision