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PTT Global Chemical Enters Into JV to Establish GC Polyols Company

Published on 2017-09-11. Author : SpecialChem

PTT Global Chemical has announced that it is establishing a joint venture with Sanyo Chemical Industries and Toyota Tsusho Corporation to establish GC Polyols Company to produce polyols, a key raw material for polyurethane. This is another step forward for the petrochemical business in the Eastern Economic Corridor (EEC), Thailand’s special economic zone.

Joint Venture to Form GC Polyols

PTT Global GC Company
PTT Global Chemical Enters JV to Establish GC Polyols Company

The joint venture agreement was signed by:

  • Mr. Supattanapong Punmeechaow, President and CEO of PTT Global Chemical Public Company Limited
  • Dr. Takao Ando, President, Sanyo Chemical Industries., Ltd.and Mr. Soichiro Matsudaira, Representative Director, Member of the Board, Executive Vice President, Chief Division Officer of Chemicals & Electronics Division, Toyota Tsusho Corporation

PTTGC will hold 82.1% of the shares in GC Polyols, while Sanyo Chemical will hold 14.9% and Toyota Tsusho will hold 3%.

New Plant Scheduled To Start Operating in 2020

According to Mr. Punmeechaow, “This joint venture is an important step for PTTGC as we follow the government’s new S-Curve policy that falls under the Thailand 4.0 initiative.

It increases our company’s presence in performance chemicals, which are high value-added products. In line with PTTGC’s strategic direction, we are focusing on expanding into industry sectors such as automotive, electrical & electronics, and construction, which offer excellent growth opportunities for the company.

The new GC Polyols plant will be located in Hemaraj Eastern Industrial Estate, Rayong province, which is within Thailand’s Eastern Economic Corridor. The plant will have an annual capacity of 130 kilotons of polyether polyols and 20 kilotons of PU System. Construction begins in September 2017 and the plant is scheduled to start operating in 2020.

Three Joint Venture Partners

  • Under the joint venture, PTTGC will supply feedstock Propylene oxide (PO) and Ethylene Oxide (EO), key raw materials for polyols
  • They are used to make high-performance polyurethane for the automotive, electrical & electronics, and construction industries
  • Sanyo Chemical will provide technology know-how to produce polyols to fulfill customer’s requirements
  • Toyota Tsusho will support the joint venture with its strong marketing and sales network around the world, especially in Asia as well as logistics management expertise
  • The combined strengths of the three joint venture partners will contribute greatly to GC Polyols’ long-term success

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Source: PTT Global Chemical
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