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(TradingMarkets) -- GS Engineering & Construction Co. has received a letter of intent from a Thai oil company for an US$80 million deal to expand and run propylene facilities in the country.
Under the deal with an affiliate of Thailand"s state-run oil company PTT Public Co., the South Korean builder will work to expand production capacity of propylene facilities in a region located 180 kilometers southeast of Bangkok.
The construction will start next month with its completion slated for August 2012. Once completed, they will produce 100,000 tons of propylene annually. As reported before, (see mrcplast.com from July 22), PTT is already on its way to restructure its business, and the process has been held due to legal issues.
mrcplast.com |
