Bangkok — PTT Global Chemical (PTTGC) has confirmed its joint venture in Rayong province, Thailand will build a propylene oxide (PO) project with nameplate capacity of 200 kT/year and be commercial in 2020.
The announcement also confirmed that the firm has set up GC Oxirane which will operate the project and is a 100% PTTGC owned subsidiary. The firm has also established GC Polyols which will invest in the PU systems project and polyols joint-venture.
PTT global chemicals said that the joint-venture agreement, credit facilities are being prepared and this is expected to be completed by the end of the month.
A year ago, PTT Global Chemical committed to more Thai polyol capacity. At that time the firm said that 94 kT/year is earmarked for its polyols joint venture with Toyota Tsusho and Sanyo Chemicals. The PO will be supplemented with additional ethylene oxide to produce around 130 kT/year polyols within the joint venture.