Companies plan monoethylene glycol plant in Thailand

March 14, 2001
Thai Olefins Co. (TOC) and Indorama Group announced a joint venture to develop a $200 million monoethylene glycol (MEG) plant on the Thai eastern seaboard. The plant, the first of its kind in Thailand, will have a 300,000-tonne/year capacity, effective in late 2003 or early 2004.


By an OGJ Online Correspondent


BANGKOK, Mar. 14
�Thai Olefins Co. (TOC) and Indorama Group have announced a joint venture to develop a $200 million monoethylene glycol (MEG) plant on the Thai eastern seaboard.

The plant, the first of its kind in Thailand, will be capable of producing 300,000 tonnes/year, effective in late 2003 or early 2004, TOC said.

The MEG plant will be integrated with TOC's Map Ta Phut petrochemical complex at Rayong, Thailand.

Among Thailand's largest olefins producers, TOC will own 25% in the joint venture while Indorama, a Bangkok-based polyester and wool-yarn spinning conglomerate, will own 75%. Indorama will use MEG for its polyester production.

Recently, TOC awarded Chiyoda Corp. and Halliburton Co. a $140 million contract to build a 300,000-tonne/year ethylene production plant, also at Map Ta Phut (OGJ Online, Jan. 29, 2001).

TOC anticipates increased financing this year, both from its parent company and a proposed initial public offering slated for the third quarter (OGJ Online Feb. 8, 2001). The Petroleum Authority of Thailand holds 49% of TOC.