Sumitomo signs butadiene derivatives JV agreement with PTT, Kuraray

Sumitomo signs butadiene JV agreement with PTT, Kuraray

9:49 AM, 7th March 2018
Sumitomo signs butadiene derivatives JV agreement with PTT, Kuraray
Signing ceremony of detailed feasibility study agreement on September 2016.

TOKYO, JAPAN: Sumitomo Corporation, together with PTT Global Chemical Public Company Ltd and Kuraray Co Ltd have concluded a joint venture (JV) agreement. They have been jointly conducting a detailed feasibility study on the manufacture and sale of butadiene derivatives in Thailand. and recently concluded a joint venture agreement with these partners.

Kuraray will have 53.3 percent share in the JV while PTT and Sumitomo will 33.4 percent and 13.3 percent respectively.

Since September 2016 the three companies have been conducting a detailed feasibility study on manufacturing and sales of PA9T heat-resistant polyamide resin and HSBC hydrogenated styrenic thermoplastic elastomer at Hemaraj Eastern Industrial Estate located in the petrochemical complex at Map Ta Phut, Thailand.

With the conclusion of the joint venture agreement, the three companies will begin application procedures with the relevant authorities and will be working out final investment decisions and other details pertaining to the joint venture company.

The project can expect to see steady growth with competitive raw material and utilities supply from PTTGC and the PTT Group, Kuraray’s production technology and sales & marketing know-how, and Sumitomo’s global trade network.

Sumitomo is aiming for global business expansion in the petrochemicals business with its strong trade network and successful projects.

© Worldofchemicals News



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