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PTTGC, Sanyo Chemical & Toyota Tsusho to Build Polyols Complex in Thailand

Published on 2017-09-14. Author : SpecialChem

PTT Global Chemical Public Company Limited (PTTGC) has announced it is establishing a joint venture with Sanyo Chemical Industries, Ltd. and Toyota Tsusho Corporation to establish GC Polyols Company Limited to produce polyols, a key raw material for polyurethane. This is another step forward for the petrochemical business in the Eastern Economic Corridor (EEC), Thailand’s special economic zone.


Three Joint Venture Partners
Mr. Supattanapong Punmeechaow, President and CEO of PTT Global Chemical Public Company Limited; Dr. Takao Ando, President, Sanyo Chemical Industries., Ltd.; and Mr. Soichiro Matsudaira, Representative Director, Member of the Board, Executive Vice President, Chief Division Officer of Chemicals & Electronics Division, Toyota Tsusho Corporation; were on hand to sign the joint venture agreement. PTTGC will hold 82.1% of the shares in GC Polyols, while Sanyo Chemical will hold 14.9% and Toyota Tsusho will hold 3%.

According to Mr. Punmeechaow,

"This joint venture is an important step for PTTGC as we follow the government’s new S-Curve policy that falls under the Thailand 4.0 initiative. It increases our company’s presence in performance chemicals, which are high value-added products. In line with PTTGC’s strategic direction, we are focusing on expanding into industry sectors such as automotive, electrical & electronics, and construction, which offer excellent growth opportunities for the company."

Construction Begins in September


The new GC Polyols plant will be located in Hemaraj Eastern Industrial Estate, Rayong province, which is within Thailand’s Eastern Economic Corridor. The plant will have an annual capacity of 130 kilotons of polyether polyols and 20 kilotons of PU System. Construction begins in September 2017 and the plant is scheduled to start operating in 2020.

High-performance Polyurethanes


Under the joint venture, PTTGC will supply feedstock Propylene oxide (PO) and Ethylene Oxide (EO), key raw materials for polyols that are used to make high-performance polyurethane for:

  • Automotive
  • Electrical & electronics
  • Construction industries

Sanyo Chemical will provide technology know-how to produce polyols to fulfill customer’s requirements, while Toyota Tsusho will support the joint venture with its strong marketing and sales network around the world, especially in Asia as well as logistics management expertise. The combined strengths of the three joint venture partners will contribute greatly to GC Polyols’ long-term success.

In additional, leading financial institute including Krungthai Bank, Land and Houses Bank, Thanachart Bank and Kiatnakin Bank provide financial support about 23,100 million Thai Baht to support Thailand’s Eastern Economic Corridor, a crucial component of national strategy.

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Source: PTT Global Chemical Public Company
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