I D
× COMMENTARYCOVER STORYIN THE NEWSNEWSFRONTSCHEMENTATOR + Show More
Chemical Engineering MagazineChementator Briefs
Depolymerization Last month, DuPont Teijin Films Ltd. (DTF; Contern, Luxembourg;…
BUSINESS NEWSTECHNICAL & PRACTICALFEATURE REPORTFACTS AT YOUR FINGERTIPSTECHNOLOGY PROFILEENVIRONMENTAL MANAGEREQUIPMENT & SERVICESFOCUSNEW PRODUCTS + Show More SHOW PREVIEWS

Comment

PTTGC and Mitsui Chemicals enter joint venture agreement for PTA and PET production

By Mary Page Bailey |

PTT Global Chemical PLC (PTTGC; Bangkok, Thailand; www.pttgcgroup.com) and TOC Glycol Co., Ltd. (TOCGC), a subsidiary of PTTGC, announced plans to sign joint venture (JV) agreements with Mitsui Chemicals, Inc. (MCI; Tokyo, Japan; www.mitsuichem.com) to cooperate in managing Siam Mitsui PTA Co., Ltd. (SMPC), a Purified Terephthalic Acid (PTA) producer, and Thai PET Resin Co., Ltd. (TPRC), a Polyethylene Terephthalate resin (PET) producer.

PTTGC and TOCGC will hold 74% of the shares in SMPC and TPRC, while Mitsui Chemicals will hold 26%. 

According to Mr. Punmeechaow, “This joint venture is an important step for PTTGC’s strategic direction, to diversify plastic resin portfolio, which harmonizes with the business strategy of the Company’s intention. Not only does we intend to expand the downstream investment and increase market potential in polymer business to satisfy customer’s needs, but we also generate business opportunities for PTTGC to simultaneously enhance the feedstock management for both PX and MEG, which will eventually result in better profitability throughout the business.”

Under the joint venture, PTTGC will supply feedstock Paraxylene (PX), key raw material for Purified Terephthalic Acid (PTA), and TOCGC will supply Mono Ethylene Glycol (MEG), key raw material for Polyethylene Terepthalate Resin (PET). MCI will provide technology know-how, technical support as well as marketing and sales network. The combined strengths of the two joint venture partners will contribute greatly to the JV company’s long-term success.

Related Content

Chemical Engineering publishes FREE eletters that bring our original content to our readers in an easily accessible email format about once a week.
Subscribe Now
Reduce the Risk of Corrosion in Fertilizer Production
3 Reasons to Automate Sensor Cleaning
Protect Your Turbines from Silica with a Low Maintenance Analyzer
Your Off-line pH Measurements Might Be Misleading and Costing You a Lot of Money
Reduce Explosion Risk in 2 Seconds with In Situ Oxygen Analysis

View More

Live chat by BoldChat