Thai PTTGC To Invest $985MM In Olefins Plant
BANGKOK, Jan 23 (Reuters) - Thai PTT Global Chemical Pcl (PTTGC) plans to invest $985 million in a new olefins plant, the company said on Tuesday.
PTTGC, the petrochemicals arm of state-owned energy giant, PTT Pcl, said that the investment would increase its nameplate capacity to 3.74 million metric tons of olefins a year, up from 2.99 million metric tonnes a year.
The new plant would use naptha and liquefied petroleum gas as its main feedstock and be located in the Map Ta Phut industrial estate on Thailand's eastern seaboard, the company said in a statement.
The new plant is expected to begin commercial operation in 2020, PTTGC said.
(Reporting by Chayut Setboonsarng; Editing by David Goodman)
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