Kuraray Co. Ltd, PTT Global Chemical PCL and Sumitomo Corp. are to invest in a project for the manufacture of butadiene derivatives – including thermoplastic elastomers (TPEs) – in Thailand.
The project will be operated by a joint venture called Kuraray GC Advanced Materials Co. Ltd, said a 27 Dec statement from Kuraray, which will have a 53.3% stake in the JV via an intermediate holding company.
As ERJ reported last June, Bangkok-based PTT Global Chemical will have a 33.4% stake in the venture.
Sumitomo Corp. of Tokyo will own the remaining 13.3%, again through an intermediate holding company.
Headquartered in Bangkok, Kuraray GC Advanced Materials was established in June 2018 and has registered capital of Bhat5.6 billion (around €152 million).
The JV will establish capacities of 16,000 tonnes/year (t/yr) for TPEs based on hydrogenated stryenic block copolymers, and 13,000 t/yr for polyamide 9T at Map Ta Phut, Rayong province.
In addition, Kuraray said it will by itself construct a 5,000 t/yr plant for the production of 5KTA 3-methyl-1,5-pentanediol (MPD) adjacent to the JV plant.
Construction work on the facilities is expected to be completed by around the end of 2021.
Kuraray said it will invest Yen40 billion (€320 million) in the three production projects overall.