MOSCOW (MRC) -- Siam Cement Group (SCG) Chemicals' subsidiary plans to invest in a new grade of high value added (HVA) polyethylene (PE), with commercial production beginning by the end of the year, reported the Bangkok Post, citing SCG President Chonlanat Yanaranop, as per Apic-online.
SCG plans to submit a proposal at next month's board meeting for the project, Chonlanat said. No other details were given.
The company has budgeted 4-billion baht this year to invest in segments highlighted by Thailand's super-cluster policy and another 6-billion baht to use towards maintenance and new equipment.
We remind that, as MRC wrote before, in April 2016, SCG said its planned petrochemical complex in Vietnam would be further postponed by six months, pending the conclusion of an agreement with a new joint-venture partner following the exit of Qatar Petroleum International (QPI). The USD4.5-billion fully integrated complex is to be the first of its kind in Vietnam and a key regional flagship for the Thai conglomerate.
SCG Chemicals is a subsidiary of SCG and is one of SCG’s 3 core businesses consisting of Chemicals, Paper and Cement-Building Materials. SCG embarked upon the chemicals business in 1989. At present, SCG Chemicals manufactures and supplies a full range of petrochemical products ranging from upstream petrochemicals such as Olefins, intermediate petrochemicals such as Styrene Monomer, PTA, and MMA, to downstream petrochemicals such as Polyethylene, Polypropylene, Polyvinyl Chloride, and Polystyrene resins. SCG Chemicals is now one of the largest integrated petrochemical companies in Thailand and a key industry leader in the Asia-Pacific region.
MRC