PTT Global Chemical PCL (PTT GC) has let a contract to a subsidiary of Samsung Engineering Co. Ltd., Seoul, for a recently approved project to expand use of propane as a feedstock at PTT GC’s existing olefins operations at Map Ta Phut Industrial Estate in Thailand’s Rayong Province, about 150 km southeast of Bangkok.
As part of the $120-million contract, Samsung Engineering (Thailand) Co. Ltd. will provide engineering, procurement, and construction (EPC) services for PTTGC’s proposed Olefins 2 modification project at the Map Ta Phut complex, Samsung Engineering said in a post to its official Facebook account.
The EPC contract award follows PTT GC’s final investment decision to move forward with the project taken at an Oct. 22, 2020 meeting of the operator’s board of directors, PTT GC said in a Jan. 26, 2021 filing to the Stock Exchange of Thailand.
Alongside increasing propane usage as a feedstock, PTT GC said the Olefins 2 modification project also aligns with the operator’s broader strategy of enhancing overall feedstock flexibility to ensure long-term competitiveness of the complex.
In addition to awarding the EPC contract to Samsung Engineering on Jan. 22, PTT GC said Thailand’s Office of Natural Resources and Environmental Policy and Planning (ONEP) has already approved the project’s environmental impact assessment report.
Currently scheduled to enter commercial operation during first-quarter 2023, the Olefins 2 modification project will require a total investment of about $165 million, according to PTT GC.
