Sep. 13, 2016
Sumitomo Corporation starts the joint study on potential development of Butadiene derivatives with Kuraray and PTT Global Chemical (Thailand)
Sumitomo Corporation (head office: Chuo-ku, Tokyo; President & CEO : Kuniharu Nakamura, hereafter referred to as “Sumitomo”), Kuraray corporation (Head Office: Chiyoda-ku, Tokyo; President : Masaaki Ito, hereafter referred to as “Kuraray”) and PTT Global Chemical Public Company Ltd. (Head office: Bangkok; President & CEO: Supattanapong Punmeechaow, hereafter referred to as “PTTGC”) signed a Head of Agreement （HOA） to jointly perform Detailed Feasibility Study (DFS) for potential project development of manufacturing and sales of Butadiene derivatives in Thailand (hereafter referred to as “Project”) on September 13, 2016.
After the successful completion of a prelim joint feasibility study for potential development of Butadiene derivatives in Thailand on a Memorandum of Understanding (MOU) signed by Kuraray, PTTGC and Sumitomo in September 2015, three partners decided to move forward the project to the early phase of engineering study to perform Front End Engineering Design (FEED) by signing HOA. The Final Investment Decision (FID) shall be made in 2nd half of 2017. Equity proportion and or other details are being under consideration.
The Feasibility Study (F/S) will be targeted to start operation of 13KTA High Heat Resistant Polyamide-9T (PA9T) and 16KTA Hydrogenated Styrenic Block Copolymers (HSBC) in Hemaraj Eastern Industrial Estate (HEIE), Rayong in Thailand in 2020. Butadiene as a key raw material will be supplied by PTTGC in the industrial area.
The project shall be expected steady growth with the competitive raw material and utilities supply from PTTGC and PTT group, and Kuraray’s the production technology and sales & marketing know-how, and Sumitomo’s global trade network.
Sumitomo aims global business expansion in Petrochemicals business field with strong trade network and the project success.
Pictured Below: Signing ceremony for Head of agreement
from right: Supattanapong( President & CEO,PTTGC ) ; Masaaki Ito (President ,Kuraray) ;Masahiro Fujita(Senior Managing Executive Officer, Sumitomo)