15 August 2017
Mr. Prasert Bunsumpun
Chairman / Chairman of the Independent Directors
PTT Global Chemical Public Company Limited
Mr. Supattanapong Punmeechaow
President & Chief Executive Officer
PTT Global Chemical Public Company Limited
DETAILS
PTT Global Chemical Public Company Limited (the "Company")
would like to inform that the Company has established
GC Oxirane Co., Ltd.
for the purpose to operate Propylene Oxide (PO) project
which will be held by the Company 100%.
GC Oxirane has signed
* Engineering, Procurement & Construction Contract and
* Credit Facilities Agreement.
This transaction was approved by Board of Directors
in the meeting No.6/2017, on 24 April 2017.
Propylene Oxide (PO) and Polyols & PU System projects
are in Polyurethane chain which has been categorized in
Performance Chemical product line
that directly follows long term business strategy of the Company.
Propylene Oxide project will build plant
with nameplate capacity of 200,000 tons per year,
and located in Hemaraj Eastern Industrial Estate, Rayong.
This project intends to consume propylene
as main feedstock and will partially sell its product to
Polyols & PU System as feedstock,
it has been planned to commercial operate within 2020.
Beside this, the Company also established
GC Polyols Co., Ltd.
which is prepared for investment in
Polyols & PU System project,
which the company has planned to be
a joint venture company with strategic partners.
At present, the related document, including
joint venture agreement and Credit Facilities Agreement,
are under preparation phase,
which is scheduled to be completed within August 2017.
The company will disclose to SET once there is progress of this project.
The total investment of both projects
is approximately $887.4 million or equivalent
to 32,000 million baht.
SOURCE : WWW.SET.OR.TH,
WWW.CHEMWINFO.COM BY KHUN PHICHAI
