Japanese companies Kuraray Co and Sumitomo Corporation have agreed to build a production facility for engineering and thermoplastics in Thailand in a joint venture with PTT Global Chemical Plc (PTTGC), the country's largest petrochemical firm. The project is expected to be located in Rayong's Hemaraj Industrial Estate, which is adjacent to its existing olefin cracker. Supattanapong Punmeechaow, PTTGC's president and chief executive, said the company did a feasibility study for two years before the three partners reached an agreement. He said the company is expanding capacity by 7% from 8.8 million tonnes per year, with the higher output available by the end of this year. PTTGC shares closed on the SET yesterday at 57.50 baht, up 1.50 baht, in trade worth 594 million baht.

Source: Bangkok Post September 14, 2016 00:00 UTC