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MOSCOW (MRC) -- PTT Global Chemical
(PTTGC) has announced that Auria Biochemicals Co., a joint venture of PTTGC
and Myriant Corp., will be dissolved, as per Apic-online.
On 12 Apr. 2018, at a
general meeting of Auria shareholders, a resolution was passed to dissolve the
joint venture, which was established in 2013 to conduct research and development
of bio-based chemicals in order to enhance Myriant's technology. Myriant is
a wholly-owned subsidiary of PTTGC.
PTTGC said the decision was based on
low crude oil prices and "unfavorable" conditions for applying intellectual
property on bio-based succinic acid in South East Asia making it not
feasible to invest in commercial production.
As MRC wrote before,
PTTGC restarted LLDPE plant on 3 April, 2016, following a maintenance
turnaround. The plant was shut for maintenance in early-March 2016. Located at
Map Ta Phut in Thailand, the LLDPE plant has a production capacity of 400,000
mt/year.
PTT Global Chemical is a leading player in the petrochemical
industry and owns several petrochemical facilities with a combined capacity of
8.45 million tonnes a year. |
