PTT Plc has invested US$250 million (9.5 bln baht) to acquire a 40% stake in HMC Polymers Co.- an established producer of polypropylene (PP) products with a capacity of 420,000 tpa, and specialization in unique PP grades. This investment will make PTT the largest shareholder in HMC - which is owned by Thailand's largest commercial bank, Bangkok Bank.
PTT plans to support HMC in developing a propane dehydrogenation and polypropylene (PDH/PP) project to produce more polypropylene. This project would result in PDH production capacity of 310,000 tpa and PP capacity of 300,000 tpa. Commercial production is scheduled for Q2-2009. The PDH/PP project would also emphasise the company's specialty-grade PP business, enabling PTT to avoid heavy competition in commodity market and give the company a more diverse product portfolio. It would help in value addition to the propane produced by PTT's gas separation plants - a feedstock for the PDH/PP project.
05-Jun-06 
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