PTT Global Chemical Plc (PTTGC), the country's largest petrochemical producer, on Friday announced plans to invest in a US$900-million (29.9 billion baht) polyols facility in Rayong with two Japanese partners. The project has received 23.1 billion baht in financing from Krungthai Bank, Land and Houses Bank, Thanachart Bank and Kiatnakin Bank, the statement said. PTTGC will hold 82.1% of the venture, Sanyo Chemical 14.9% and Toyota Tsusho 3%. PTTGC said on Tuesday that it would invest $5 billion from 2017-22, at a rate of $1 billion each year. PTTGC shares closed on Friday on the Stock Exchange of Thailand at 74 baht, down 25 satang, in trade worth 429.8 million baht.

Source: Bangkok Post August 25, 2017 12:00 UTC