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PTTGC announces dissolution of Auria Biochemicals

May 14/2018

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.


mrcplast.com
Author:Margaret Volkova
Tags:PE, LLDPE, petrochemistry, PTT Chemical, Thailand.
Category:General News
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