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PTT/AKCC/Marubeni to study Petrochem BU Investment
22 May '06
2 min read
Mr. Prasert Bunsumpun, President of PTT Public Company Limited (PTT) revealed that PTT, Asahi Kasei Chemicals Corporation (AKCC), and Marubeni Corporation, have signed the Memorandum of Understanding (MOU) on the Bt20-billion co-investment project in Acrylonitrile (AN) and Methyl Methacrylate (MMA) in Thailand.
PTT and AKCC also agreed on a joint feasibility study on the production of Poly Methyl Methacrylate (PMMA) by using MMA as feed stocks.
Thus, 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.
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.
Mr. Prasert said such cooperation involves the project on joint production of AN at 200,000 tons per year and MMA at 70,000 tons per year by using the latest technology of AKCC in which it is for the first time in the world to replace Propylene as feedstock by Propane from PTT Gas Separation Plant.
If the joint-investment project is proved successful, there will be an import reduction of AN by 129,000 tons per year and help save the country's foreign currency by Bt6.8 billion per year. Meanwhile, there will also be additional income to Thailand via export of excess production capacity of AN and MMA by Bt8 billion a year.
Ethylene and propylene producer PTT Chemical Plc's potential for innovation will help reduce the country's current dependence on imported petrochemicals and propel the entire industry into a into a new era of strength and stability new era of strength and stability.
PTT and AKCC also agreed on a joint feasibility study on the production of Poly Methyl Methacrylate (PMMA) by using MMA as feed stocks.
Thus, 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.
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.
Mr. Prasert said such cooperation involves the project on joint production of AN at 200,000 tons per year and MMA at 70,000 tons per year by using the latest technology of AKCC in which it is for the first time in the world to replace Propylene as feedstock by Propane from PTT Gas Separation Plant.
If the joint-investment project is proved successful, there will be an import reduction of AN by 129,000 tons per year and help save the country's foreign currency by Bt6.8 billion per year. Meanwhile, there will also be additional income to Thailand via export of excess production capacity of AN and MMA by Bt8 billion a year.
Ethylene and propylene producer PTT Chemical Plc's potential for innovation will help reduce the country's current dependence on imported petrochemicals and propel the entire industry into a into a new era of strength and stability new era of strength and stability.
PTT Chemical Plc
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