THAILAND
Expansion of petrochemical industry / Growing plastics markets
The recent decision of the Thai investment authority Board of Investment (BoI, vibhavadi Rangsit Road, Bang Khen, Bangkok 10900) to resume the promotion of new projects in the petrochemical sector of the country is expected to lead to strong impetus towards expansion. Several private enterprises are currently preparing investment plans which are expected to be realised soon.
The integration process under the regional free trade area AFTA (ASEAN Free Trade Area), initiated in 1993, provides for a step by step reduction and adjustment of the import tariff rates in the member countries. It is stated that 17 existing and 18 new investors are currently working on projects for which public subsidies have been requested. According to Bol-statements, Thailand, after Singapore, is currently the second largest petrochemical producer in the ASEAN-area. To enable themselves to participate in the strongly expanding market in Asia, Malaysia and Indonesia recently have also intensified their petrochemical activities.
All countries mentioned are pursuing ambitious plans for expanding capacities. Thailand's annual production of olefins currently amounts to approximately 350,000 t, which in the course of the year is expected to be increased by about 60,000 t. Singapore plans an increase in the production of olefins from 440,000 t in 1994 to 840,000 t in 1997. Malaysia intends to raise its current production of 230,000 t to 550,000 t by 1996. Indonesia's production for 1995 is estimated to amount to 375,000 t.
The 18 new projects in Thailand have been planned by processing companies which will purchase their raw materials from the second petrochemical complex, the National Petrochemical Public Co Ltd (NPC, 21st Floor, Sono-Thai Tower, Sukhumvit Road, Bangkok 10110) which according to the present time schedule, will be put into operation in the current year. A further large complex, the NPC for the manufacture of ethylene with a volume of investment of $ 600m, is being planned. Within the framework of the 18 new projects in the downstream field, the manufacture of PVC, PP, PE-LD, PE-HD and ABS, among others, is intended. The largest investor is the Thai Petrochemical Industry Company (Bangkok Union Insurance Building, 175-177 Suriwong Road, Bangrak, Bangkok 10500).
The strong expansion of the plastics markets in Thailand, which may currently be observed, is supposed to lead to a further revival of the demand for petrochemical products. Due to the generally favourable economic situation in Thailand, this positive development is expected to continue in the next few years.
The integration process under the regional free trade area AFTA (ASEAN Free Trade Area), initiated in 1993, provides for a step by step reduction and adjustment of the import tariff rates in the member countries. It is stated that 17 existing and 18 new investors are currently working on projects for which public subsidies have been requested. According to Bol-statements, Thailand, after Singapore, is currently the second largest petrochemical producer in the ASEAN-area. To enable themselves to participate in the strongly expanding market in Asia, Malaysia and Indonesia recently have also intensified their petrochemical activities.
All countries mentioned are pursuing ambitious plans for expanding capacities. Thailand's annual production of olefins currently amounts to approximately 350,000 t, which in the course of the year is expected to be increased by about 60,000 t. Singapore plans an increase in the production of olefins from 440,000 t in 1994 to 840,000 t in 1997. Malaysia intends to raise its current production of 230,000 t to 550,000 t by 1996. Indonesia's production for 1995 is estimated to amount to 375,000 t.
The 18 new projects in Thailand have been planned by processing companies which will purchase their raw materials from the second petrochemical complex, the National Petrochemical Public Co Ltd (NPC, 21st Floor, Sono-Thai Tower, Sukhumvit Road, Bangkok 10110) which according to the present time schedule, will be put into operation in the current year. A further large complex, the NPC for the manufacture of ethylene with a volume of investment of $ 600m, is being planned. Within the framework of the 18 new projects in the downstream field, the manufacture of PVC, PP, PE-LD, PE-HD and ABS, among others, is intended. The largest investor is the Thai Petrochemical Industry Company (Bangkok Union Insurance Building, 175-177 Suriwong Road, Bangrak, Bangkok 10500).
The strong expansion of the plastics markets in Thailand, which may currently be observed, is supposed to lead to a further revival of the demand for petrochemical products. Due to the generally favourable economic situation in Thailand, this positive development is expected to continue in the next few years.
15.05.1995 Plasteurope.com [20789]
Published on 15.05.1995