Thailand’s PTTGC awards olefin plant $790MM contract to Samsung

BANGKOK - 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, n a Jan. 23 filing to the Stock Exchange of Thailand, 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 naphtha 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.

PTTGC awarded Samsung Engineering Co., Ltd. the $790 million engineering, procurement, construction and commissioning (EPCC) contract for its Olefins Reconfiguration Project (ORP), Samsung Engineering reported Wednesday.
PTTGC and Samsung Engineering sign contract
(sourced from Reuters, Rigzone and O&G Journal)

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