PTT to boost petrochemical spending

PTT Plc said it would invest a total of about US$4.4 billion in petrochemical projects between 2007 and 2011, in preparation for the expected competition beginning around 2010 from large-scale start-ups mainly in the Middle East. During the five-year period, PTT plans to secure cost-competitive raw materials by promoting natural-gas separation and integration with oil refineries, while boosting its production capacities of olefins and aromatics. About US$2 billion of the expenditure will be on upstream projects, majority of which will be on the US$1.3 billion-ethane cracker feeding the polyethylene plant of PTT Polyethylene. This ethane cracker project will be completed at the end of 2009, with an ethylene output capacity of 1 million tons per year. The remaining US$2.4 billion will be spent on its derivative projects, i.e., phenol, acetone, acrylonitrile and methyl methacrylate monomer. (April 26, 2007)