2006/2 　ExxonMobil signed a licensing agreement with Thailand's PTTChem for LDPE

2006/10　TEC、タイPTTPE向け100万トンエチレン設備を受注

　　　　　　　　　　　　　　jv of PTT and PTT Chemical

2007/2　TEC、タイ向けポリエチレン設備を受注

2007/7 　Thai PTT to complete second olefin debottlenecking by June 2008

2011/1 PTT Chemical Group announces investment in Myriant Technologies

2011/7　Thiland's PTT, Japan's Mitsubishi Chem to form bio-plastic JV

2011/9  Thai PTT Chemical targets stake in US NatureWorks

PTT Chemical

2005年12月12日 Chemnet Tokyo

タイのNPCとTOCが合併、PTTケミカルが誕生

　タイのオレフィンメーカー、NPCとタイ・オレフィン(TOC)が合併し、PTTケミカルが誕生、7日、式典が行われた。13日には新会社の株式が上場される。

　NPCには国有石油ガス会社のPTTが38%、サイアムセメントが35%を出資し、TOCにはPTTが49%、サイアムが7%出資していた。合併はPTTの方針によるもので、合併会社にはPTTが50%程度所有する見込み。
(ＰＴＴが株式の50.03％を保有し、同社の連結子会社として発足)

　両社のエチレン能力はNPCが437千トン、TOCが685千トンで合計1,122千トンとなり、サイアムのラヨンオレフィンの80万トンを超えて、タイ最大のメーカーとなる。ほかにPTTとNPCは共同で410千トンのエチレンプラントを建設することを決めている。

　PTTは、NPCとの合弁でPTTポリエチレン(LDPE 40万トン新設決定)、TOCとの合弁でバンコック・ポリエチレン(HDPE 20万トン)を持っているが、それぞれの50%の持株を新会社に譲渡する予定。NPC自身はHDPE 25万トンを持つ。

　新会社では既にエチレン、PTTポリエチレンのLDPE、TOCのMEG(30万トン)の新規投資中だが、更に追加投資をする予定。

　これとは別に、PTTは経営再建中のタイ・ペトロケミカル・インダストリー(TPI)の31.5%を所有しているが、政府主導の再建案の停止を求めた同社創業者のプラチャイに対し中央破産裁判所が請求を却下したのを機に、同社への社長派遣を決めた。(プラチャイは最高裁への上告を示唆している)

　PTTでは、TPIはフルレンジの石化コンプレックスを持っているため、PTTケミカルに統合する考えはないとしている。

2005/12/8 Dow Jones

Thai PTT Chemical Plans To Invest $1.2B In 2004-2009

PTT Chemical PCL, formed from the merger of National Petrochemical PCL and Thai Olefins PCL, plans to invest $1.2 billion during 2004-2009 to expand petrochemical production, Aditheb Bisalbutr, the company's president, said Wednesday.

Adithep told reporters during a ceremony Wednesday(12/7) to mark the completion of the merger that the $1.2 billion is the combined planned investment in 13 projects of the two firms.

The funding will mostly come from cash flow. The company raised $300 million from an offshore bond offering earlier this year, and also has a $135 million credit line.

"We have cash on hand around $400 million-$500 million, so we have no need to borrow much money," he said.

The company has already spent THB420 million to start three projects in 2004 and plans an additional THB2.55 billion investment this year. The investment will rise further to THB15.6 billion in 2006, and THB13.2 billion in 2007.

"We intend to invest in a variety of petrochemical products to diversify risk amid cyclic swings for petrochemical products," he said.

Adithep said revenue will rise next year following the completion of the company's three projects, including its MEG plant, which has a production capacity of 300,000 tons a year. MEG is a raw material used in plastic bottles and textile products.

Aditheb earlier estimated PTT Chemical would record THB57 billion in revenue this year and THB61 billion in 2006.

"Our revenue will jump significantly in 2007 when the six projects are complete," he said.

PTT Chemical will start trading on the Stock Exchange of Thailand from Dec. 13. Shares of NPC and TOC have been suspended from trading since last month.

The company's registered capital is at THB11.31 billion with THB10 par value.

The merger is part of a plan by oil and gas conglomerate PTT PCL, the parent company of NPC and TOC, to group its sprawling businesses. PTT will be the largest shareholder of the merged company with a stake of around 51%. PTT has a 38% stake in National Petrochemical and 49% in Thai Olefins.

2005/12/8 Bangkok Post

Merged entity draws on different strengths

PTT Chemical aims to balance its corporate culture and business strategy between the aggressive approach to growth of Thai Olefins (TOC) and the more conservative culture of National Petrochemical (NPC). NPC and TOC, both units of PTT Plc, recently merged into PTT Chemical.

NPC has been a dividend stock with a smooth-running and conservative business model, while TOC had been severely affected by the Asian economic crisis and had been more of a growth stock for investors in the past.

The different business patterns and strengths of the companies would help PTT Chemical prepare for the cyclical downtrend of the industry in future.

PTT Chemical needed to expand downstream business, so it could sustain performance during the downturn to offset the decline of upstream business, said Aditheb Bisalbutr, the PTT Chemical president and formerly TOC president.

From 2006-09, PTT Chemical plans to invest US$1.2 billion or 49.2 billion baht to diversify. Of the total, 15.6 billion would be allocated next year, 13.2 billion in 2007, 8.9 billion in 2008 and 2.5 billion in 2009.

Mr Aditheb said key NPC and TOC activities wouldn't change in the short term, but back-office operations would be pooled. Post-merger, PTT Chemical is expected to have 1,200 staff. Layoffs haven't been planned as employees are shifted elsewhere in the new company.

''PTTCH has many affiliates and further projects in its pipeline so some people can be allocated to those projects,'' said Mr Aditheb.

PTT Plc, the company's parent, announced plans to use PTTCH as its gas-based petrochemical flagship. Benefits of the merger could be in terms of reducing production costs, marketing, managing inventory and the enhancement of bargaining power for distribution channels.

In addition, the financial cost of borrowing for future projects is expected to decline due to the increase in the company's size and financial strength.

''Immediate synergy is that combined annual production output of olefins of NPC and TOC under PTTCH could increase by 100,000 tonnes to 1.5 million tonnes next year without additional investment due to the synergy of feedstock management,'' he said.

According to Mr Aditheb, PTT plans to dilute its stake in its core petrochemical subsidiaries and allow PTTCH to hold 100% in the firms.

Subsidiaries include PTT Polyethylene(PTT&NPC) and Bangkok Polyethylene(PTT&TOC), in which PTT holds 50% each and PTTCH the rest.

Far East Securities has forecast that PTTCH's net profit for this year will be 13.28 billion baht or 11.75 baht per share while its debt-to-equity ratio is expected to be 0.44 times.

PTTCH is expected to list on the Stock Exchange of Thailand on Dec 13.

Viroj Marvichak, the NPC president, will succeed Piti Yimprasert, the president of Thai Oil Plc, who will retire this year.

The Stock Exchange of Thailand announced that effective today, the SET50 and SET100 indices would be adjusted to accommodate the planned delisting of NPC and TOC.

In the SET50, Tisco Bank and TT&T will replace the two companies, while Syntec Construction and KCE Electronics will enter the SET100 index.

2005/11/7 Bangkok Post

NPC-TOC Merger to Post Sales of B57bn

PTT Chemicals Co, the planned merged entity of two affiliates of PTT, National Petrochemical Plc (NPC) and Thai Olefins Plc (TOC), will generate 57 billion baht in sales this year and 61 billion baht in 2006.

The merger process is expected to be completed in December. Once the deal is completed, PTT Chemicals will have the capacity to produce 1.27 million tonnes of olefins annually, making it the third largest producer in Asia after companies in Taiwan and Korea.
PTT Chemicals expects to post a jump in sales in the last quarter of the year on the back of a short supply of olefins products following the damage caused by Hurricane Katrina at US refineries and chemical plants.
In addition, margins on ethylene are expected to average about US$500 per tonne in the fourth quarter, up from $370 in the previous quarter.

Adithep Bisalbutr, the TOC president, said new projects, invested in separately by the two firms, totalled $1.3 billion and would contribute steady additional sales to PTT Chemicals from 2006 to 2009.
Total assets of PTT Chemicals will stand at 85 billion baht.
Mr Adithep indicated that some overlapping projects which involved investments from both companies would be revised to provide maximum benefits to PTT Chemicals.

The debt-to-equity ratio for PTT Chemicals will stand at 0.4 times and be kept at a maximum of 1:1 while its outstanding debt will be around 20 billion baht.

The shareholding structure of PTT Chemicals will be 44.25 percent held by PTT, 20.2 percent by Thai Petrochemical Industry Plc, 18.16 percent by the Siam Cement Group -- which currently holds 33.11 percent of NPC and 6.87 percent of TOC, 2.82 percent by HMC Polymer, 1.74 percent by Oman Oil, 1.56 percent by Vinythai, 1.47 percent by Bangkok Synthetics and 1.08 percent by Thai Plastic and Chemicals.

The merger would result in short-term cost savings of 580 million baht in the first year, which will rise to one billion baht annually later.

2005/7/19 Dow Jones

Thai NPC-TOC Set For Post-Merger Gains

The merged entity, to be called PTT Chemicals PCL, is expected to become one of Asia's largest ethylene makers in 2006, when Thai Olefins is scheduled to start increasing output substantially.

A larger company with leaner operations means a greater competitive edge and a healthier balance sheet, which will likely mitigate the impact from a cyclical weakening after a peak in product prices late last year, analysts said.

After the merger, however, analysts' valuations indicate the upside potential is promising thanks to increased capacity and reduced competition for the new company.

Increased Capacity To Offset Softer Prices
The timing of the merger is right, many analysts say.
"The creation of a large-scale gas-based olefins operation makes good sense given the uncertain and volatile oil price environment," analyst Kitti Nathisuwan of Macquarie Securities said in a recent research note.
Oil prices, which determine raw material costs for production of petrochemicals, are expected to rise further.

The planned merger is part of a broader reorganization in which PTT is splitting its sprawling interests into three groups: exploration and production, refining, and petrochemicals.
By 2008 PTT Chemicals is expected to increase its capacity to 1.7 million tons of ethylene per year, from a combined capacity for the two existing companies at 1.4 million tons currently. PTT Chemicals will become Thailand's largest olefins producer, surpassing Siam Cement PCL's (SCC.TH) capacity of 1.2 million tons per year.
* エチレン能力 　　NPC 437+ TOC 685=1,122
　プロピレン能力　NPC 127+ TOC 190= 317 　　オレフィン合計 1,439

PTT Chemicals will continue to benefit from the certainty that natural gas will be supplied by its parent PTT, and it will be able to reduce operating expenses and costs currently associated with competition between National Petrochemical and Thai Olefins.

Phatra Securities expects PTT Chemicals' net profit to peak around THB15 billion in 2006, up from around THB14 billion expected this year. In 2004 the combined net profit of Thai Olefin and National Petrochemical stood at THB10.84 billion.
The new company will also gain from National Petrochemical's strong cash position. PTT Chemicals' debt to equity ratio is likely to be as low as 0.28.
"This should be a cushion of comfort for the integrated firm during the upcoming downcycle," said Phatra analyst Nithi Wanikpun.

2005/7/4 Reuters

Thai National Petrochemical agrees TOC merger

National Petrochemical PCL (NPC), Thailand's third-largest olefins maker, said on Monday its board has approved a plan to merge with Thai Olefins PCL , the second largest.
Under the plan, a new firm would be established and would issue new shares to shareholders of NPC and TOC, NPC said in a letter to the exchange.
NPC shareholders would get 1.569785330 shares in the merged firm for each NPC share they own while the ratio for TOC shareholders would be 0.784892665, it said.
State-controlled oil and gas firm PTT owns 49 percent of Thai Olefins and 38 percent of NPC.
Siam Cement , the country's largest industrial conglomerate, and its group have 35.03 percent of NPC and 7 percent of Thai Olefins.

PTT has been looking to merge the two petrochemical affiliates since last year and the boards of Thai Olefins and PTT have already approved the merger.
The merger was expected to be completed in December and PTT would hold 44.25 percent of the merged firm while Siam Cement and its affiliates would own about 20 percent, PTT senior executive vice president Pichai Chunhavajira told reporters.

"The merger plan of the two companies needs approval from their shareholders and creditors and I believe it will be finished in early December," Pichai said.
Pichai said he expected the share price of the merged firm to be in the range of 74-75 baht.

Thai Olefins and National Petrochemical have similar production lines for olefins, petrochemicals used to make plastics, especially for the packaging industry.
The merged firm would be the country's largest olefins producer and the third largest in East Asia, Pichai said.

PTT, 69 percent-owned by the government, has a monopoly on gas supply through its petroleum and gas exploration and production subsidiaries.

2006/2/16 Business Wire

ExxonMobil Announces LDPE Licensing Agreement in Thailand

ExxonMobil Chemical Technology Licensing LLC announced today that it has signed a licensing agreement with Thailand's PTT Chemical Public Company Limited, (PTTChem), for production of low-density polyethylene (LDPE) and ethylene vinyl acetate (EVA) in a 100 KTA autoclave system. PTTChem, an affiliate of PTT Group and the largest producer of ethylene and propylene monomer in Thailand, also produces HDPE and supports their downstream petrochemical plants with a variety of utilities and logistics facilities.

平成1８年１０月２日 東洋エンジニアリング

タイ向け大型エチレン設備を受注

東洋エンジニアリング株式会社（ＴＥＣ、取締役社長 山田 豊）は、タイの現地法人であるトーヨータイ社（Toyo-Thai）と共同で、PTT ポリエチレン社（PTTPE）が、同国ラヨン県・マプタプットに新設する年産100万トンのエチレン製造設備をこの度受注いたしました。 米国ＡＢＢルーマス社の技術をベースに、ＴＥＣとToyo-Thai は設計から工事/試運転までのＥＰＣ業務を実施し、プラントの完成は2009 年10 月末を予定しています。

＜受注概要＞
■ 客 先： PTT ポリエチレン会社(PTTPE: PTT Polyethylene Company Ltd.)
　　　　　　　〜タイ石油公社PTT のグループ会社〜
■ 受注者： TEC（Offshore Supply 契約）とToyo-Thai（Onshore Supply and Construction 契約）
■ 対象設備：年産100 万トンエチレン製造設備
■ 建設地： タイ、ラヨン県、マプタプット
■ 適用技術：米国ＡＢＢルーマス社（ABB Lummus Global Inc.）技術
■ 役務内容：設計、機器資材の調達および工事、試運転助成までの一括請負
　　−TEC は全体の施工管理と海外での設計及び機器資材の供給を担当
　　−TTCL はタイ国内での設計、機器資材供給及び建設工事を担当
■ プラント完成予想：2009 年10 月末
■ 受注の意義：
＊ 本設備はタイ最大のエチレン製造設備で、新設されるPTTPE社のポリエチレンプラントにエチレンを供給する。
＊ ＴＥＣとToyo-Thaiが共同で受注した「Global Toyo」(*)案件
　(*)Global Toyo：Toyoという名前の下で、市場･顧客に密着しながらＴＥＣとグループ各社が相互に連携し、かつ自立的に活動する体制
＊ 本件はＴＥＣの３９件目の新設エチレンプラント実績となる。
＊ ＴＥＣにとってタイでは、NPC、ROCに次ぐ3件目のエチレンプラントとなる。

平成19年2月16日　東洋エンジニアリング

タイ向けポリエチレン設備を受注

　東洋エンジニアリング株式会社（ＴＥＣ、取締役社長 山田 豊）は、タイの現地法人であるトーヨータイ社（Toyo-Thai）と共同で、PTTポリエチレン社（PTTPE）が、同国ラヨン県・マプタプットに新設する年産40万トンの直鎖状低密度ポリエチレン製造設備をこの度受注いたしました。　米国ユニベーション社の技術をベースに、ＴＥＣとToyo-Thaiは設計から工事/試運転までのＥＰＣ業務を実施し、プラントの完成は2009年10月末を予定しています。

<受注概要> 　 　
■客先 　 PTTポリエチレン社(PTTPE: PTT Polyethylene Company Ltd.)
　　　　　　　〜タイ石油公社PTTのグループ会社〜
■受注者 　 TEC（Offshore Supply契約）とToyo-Thai（Onshore Supply and Construction契約）
■対象設備 　 年産40万トン直鎖状低密度ポリエチレン(LLDPE)製造設備
■建設地 　 タイ、ラヨン県、マプタプット
■適用技術 　 米国ユニベーション社
■役務内容 　 設計、機器資材の調達および工事、試運転助成までの一括請負
　・TECは全体の施工管理と海外での設計及び機器資材供給を担当
　・Toyo-Thaiはタイ国内での設計、機器資材供給及び建設工事を担当
■プラント完成予想 　 2009年10月末
■受注の意義
　・ 本設備は当社が2006年9月に受注した年産100万トンエチレン製造設備の下流設備で、PTTPE社からの連続受注となる。
　・ ＴＥＣとToyo-Thaiが共同で受注した「Global Toyo」(*)案件。
　　ＴＥＣとToyo-Thaiに加えて、Toyo-Koreaが基本設計業務と一部主要機器の調達に参加する他、
　　Toyo-Malaysiaから詳細設計支援の為にToyo-Thaiにエンジニアが派遣される。
　
(*)Global Toyo：Toyoという名前の下で、市場･顧客に密着しながらＴＥＣとグループ各社が相互に連携し、かつ自立的に活動する体制

Platts 2007/7/3

Thai PTT to complete second olefin debottlenecking by June 2008

Thailand's PTT Chemical, which recently completed an expansion of one of its three olefin complexes at Map Ta Phut in April, has started a
debottlenecking project on a second facility which is slated for completion by June 2008, a source close to the company said.


The company is in the process of building a fourth cracker at the site, slated for completion by December 2009. It will be ethane-based and have an ethylene capacity of 1 mil mt/year. This $1.3 billion investment will include two polyethylene plants with a combined capacity of 700,000 mt/year.
　　

January 24, 2011

Myriant Technologies, Inc. announces US$60 million strategic equity investment from PTT Chemical Group

Myriant Technologies, Inc. (Myriant), a privately-held, biotech developer and manufacturer of renewable bio-based chemicals, announced today the closing of a $60 million strategic equity investment from PTT Chemical Group (PTT Chemical), Thailand’s largest petrochemical producer.

Myriant will utilize the investment for the ongoing development of its bio-based high-value chemicals technology, as well as to help fund the rapid commercialization of its succinic acid platform, including construction of a succinic acid plant in Lake Providence, Louisiana. The investment includes the signing of the Head of Agreement for the establishment of a joint venture between PTT Chemical and Myriant for deploying Myriant’s technology in Southeast Asia. By combining PTT Chemical’s R&D capabilities and Myriant’s sophisticated technology, the joint venture will further drive technologies for the manufacturing of green chemicals using the abundant high quality bio-based feedstock available in Thailand and the Asian region.

“With this investment, PTT Chemical Group supports Myriant’s leadership position and proven track record in bringing innovation to the marketplace,” said Stephen Gatto, Myriant Chairman and Chief Executive Officer. “We are thrilled to have found a partner that shares our vision of the ever-increasing opportunity represented by bio-based chemicals, and one that provides the desire to deploy this technology on a global scale at an accelerated pace. PTT Chemical’s breadth of commercial and technical expertise, coupled with their deep knowledge of critical Asian markets, will propel Myriant to become a global leader in industrial biotechnology.”

“PTT Chemical Group invested USD 60 million in Myriant and will further collaborate with them in the research and development for green chemicals” said Mr. Veerasak Kositpaisal, President & Chief Executive Officer of PTT Chemical. “These green products will meet the continuously increasing demand for environmentally friendly products, driven largely from customers’ awareness; especially in the rapidly growing Asian markets. The involvement in the succinic acid plant in Louisiana through this investment in Myriant is the strategic entry point that will not only accelerate the commercialization of bio-based products but also strengthen our competitive advantage in bio-based technology.”

In late December, with Louisiana Governor Bobby Jindal, Myriant announced that it will soon begin construction on a 30 million pound bio-based succinic acid production plant in Lake

Providence, Louisiana that will be the world’s largest. Succinic acid has been recognized as one of the most promising biochemicals that can be produced from renewable feedstocks to replace a wide range of petroleum-based chemicals. Myriant’s renewable succinic acid offers cost competitive performance, reduced price volatility and a significantly enhanced environmental footprint as compared to petroleum-based alternatives.

HSBC was the financial adviser to PTT Chemical Group for this transaction and Morgan Joseph was the adviser to Myriant Technologies for this transaction.

Once operational in 2012, the project will use sorghum and carbon dioxide to produce up to 30 million pounds per year of succinic acid. Succinic acid is traditionally produced from petroleum-based feedstocks and used in a wide variety of applications, including the production of polymers, fibers, surfactants, detergents and flavors. Bio-based succinic acid can directly substitute for the petroleum-based version, thus providing a renewable bio-based industrial chemical building block and reducing U.S. dependence on imported oil while reducing greenhouse gas emissions.

------------------------

Jan 24, 2011

PTT Chemical Group announces investment in Myriant Technologies

PTT Chemical Group Announces the Investment in, and the Collaboration with, Myriant Technologies to Embark on Its Green Chemicals Development

Mrs. Cynthia A. Griffin, U.S. Commercial Counselor and Dr. Prajya Phinyawat, Chief Operating Officer, Downstream Petroleum Business Group of PTT Public Company Limited, presided over a ceremony to commemorate the investment and the research and development (R&D) collaboration between PTT Chemical Group, Thailands largest petrochemical producer, and Myriant Technologies, Inc., a prominent Biotechnology firm based in Boston, USA. This strategic move paves the way for PTT Chemical Group to become the leader in Bio-based Chemicals, and creates a sustainable future.
The ceremony included the signing of the Head of Agreement for the establishment of the joint venture between PTTCH Group and Myriant by Mr. Veerasak Kositpaisal, President & Chief Executive Officer of PTT Chemical, and Mr. Stephen J. Gatto, Chairman & Chief Executive Officer of Myriant Technologies, Inc. With PTTCH's R&D capabilities and Myriant's sophisticated technology, the joint venture will further drive technologies for the manufacturing of green chemicals for application using the abundant high quality Bio-based feedstock available in Thailand and the Asian region. In 2012, Myriant will complete its succinic acid コハク酸 plant in Louisiana, USA, with capacity of 30 million pounds (14,000 tons) per year.
"PTT Chemical Group invested USD 60 million in Myriant and will further collaborate with them in the research and development for green chemicals" said Mr. Veerasak Kositpaisal. "These green products will meet the continuously increasing demand for environmentally friendly products, driven largely from customers' awareness; especially in the rapidly growing Asian markets. The involvement in the succinic acid plant in Louisiana through this investment in Myriant is the strategic entry point that will not only accelerate the commercialization of bio-based products but also strengthen our competitive advantage in bio-based technology." The entry into green chemicals of PTT Chemical Group is also in response to the Thai government's policy that encourages the private sector to set up a bioplastic plant in Thailand.
"With this investment, PTT Chemical Group supports Myriant's leadership position and proven track record in bringing innovation to the marketplace," said Stephen Gatto, Myriant Chairman and Chief Executive Officer. "We are thrilled to have found a partner that shares our vision of the ever-increasing opportunity represented by bio-based chemicals, and one that provides the desire to deploy this technology on a global scale at an accelerated pace. PTT Chemical's breadth of commercial and technical expertise, coupled with their deep knowledge of critical Asian markets, will propel Myriant to become a global leader in industrial biotechnology."
Myriant Technologies was established in 2004 in Massachusetts USA. It specializes in proprietary fermentation technology for targeted large substitution markets of petroleum-based products. Myriant was awarded USD 60 million funding from the U.S. Department of Energy and the Louisiana Department of Transportation and Development for the construction of the world's largest bio-based succinic acid plant to be located in Lake Providence, Louisiana.
PTT Chemical is a fully-integrated petrochemical and chemical company, combining visionary leadership and innovation in the chemical industry. PTT Chemical aspires to develop sustainable growth based on social benefit and global environmental standards under its vision to be the Leading chemical company for better living through innovative technology and people."

ＰＴＴケミ、タイ初のバイオポリマー工場建設へ

タイを軸にバイオポリマーの事業化が加速しそうだ。ＰＴＴケミカルはこのほど、米ミリアント・テクノロジーズに資本参加すると発表した。ミリアントは米ルイジアナ州にバイオコハク酸の新工場を建設中で、ＰＴＴケミカルの出資で得た資金を充てる計画。ＰＴＴケミカルはバイオコハク酸を 原料に、タイ初のバイオポリマー工場を建設する意向。ＰＴＴグループは先に三菱化学とバイオコハク酸をベースとしたバイオポリマーの事業化で合意してい る。タイ政府はキャッサバなどの豊富なバイオマスを原料に有効活用できるバイオポリマーの事業化を後押しする姿勢を示しており、三菱化学など日系企業の取 り組みも加速しそうだ。

Jul 19, 2011 (AsiaPulse via COMTEX) 　　　三菱化学の植物原料化（バイオ戦略）新展開

Thiland's PTT, Japan's Mitsubishi Chem to form bio-plastic JV

Thailand's largest oil and gas conglomerate, PTT, and Japan's Mitsubishi Chemical Corporation, developer of bioplastic technology, are jointly investing in a Thai-based bioplastic production project with the investment of about Bt7 billion (US$ 233 million), PTT chief executive Prasert Bunsumpun said Thursday.
In the joint venture company, PTT MCC Biochem Co., has an equal 50 per cent share, with an overall registered capital of $12 million (Bt360 million).
PTTMCC plans to produce 20,000 tonnes of bidegradable polybutylene succinate (PBS) annually, using sugar as its primary raw material and 36,000 tonnes of substrates for bio-succinic acid (BSA) per year.

ポリブチレンサクシネート系樹脂（PBS系樹脂） 商品名 GS Pla（R)
原料　バイオコハク酸(BSA)

The plant will be located at the Asia Industrial Estate in Rayong on a 40-acre plot of land40 acres plot of land and production is set to start in 2014. The investment will push Thailand to become Asias biohub, Mr Prasert said.

Myriant Technologies announces US$60 million strategic equity investment from PTT Chemical Group

Thai PTT Chemical targets stake in US NatureWorks

Thai chemicals maker and distributor PTT Chemical is discussing the acquisition of a stake in a US bioplastic polylactic acid (PLA) maker, with NatureWorks being the potential target, Reuters reported, citing a source close to the buyer's parent PTT Pcl.

According to the insider, a deal would ensure PLA supplies to PTT Chemical, so that the company would not have to produce it itself. A source at the Thai energy ministry told Reuters earlier today that the deal, in line with PTT Chemical's international expansion plans, could be completed in September, without giving further details. PTT Chemical made no comment to the news agency.

NatureWorks, the top global producer of polylactic acid, is a unit of US agribusiness group Cargill.

2009/7/8　帝人、NatureWorks の持分譲渡、自社の耐熱性バイオプラスチックに集中

The Nation July 30, 2013　

PTTGC, Sinochem in investment pact

PTT Global Chemical (PTTGC) yesterday signed a memorandum of understanding with Sinochem Group, one of China's four national oil firms, to create a partnership to explore investment opportunities in the petrochemical business in China and in the region.

This also covers the chance to explore investment in other energy sources like shale gas.

PTTGC chief executive officer Anon Sirisaengtaksin said the MoU was in line with his company's strategy of exploring new markets after relying mainly on the domestic market. China is a high-potential market with growing demand for petrochemical products.

He added that Sinochem was strong in terms of marketing capacity and logistics, while PTTGC had strong production technology, and the two strengths could complement each other.

The two companies will soon start studying the feasibility of joint investment, and the first project will be petrochemical products for the automotive and construction industries. The study is expected to be concluded early next year and investment will begin at the same time, given that Sinochem wants to start the project as soon as possible to cash in on rising demand, Anon said.

China produces 20 million vehicles per year.

Sinochem has also paved the way for PTTGC to invest in its multibillion-US-dollar petrochemical complex. This comprises many projects, including a refinery with production capacity of 200,000 barrels per day, the production of olefins with capacity of 800,000 tonnes per year, and a cracker plant with capacity of 1 million tonnes per year.

Cracker plants

The cracker plant is expected to be completely built by 2017, while the refinery's construction is close to completion.

PTTGC will have to study details of these projects first, and the conclusion is expected to be made early next year, Anon said.