PTTGC Signs a ฿15bln. Loan to Invest in Performance Chemicals Business
PTTGC has signed a ฿15 billion loan to invest in performance chemicals business to produce and sell High Heat Resistant Polyamide-9T and Hydrogenated Styrenic Block Copolymers.
PTT Global Chemical Public Company Limited (PTTGC) has announced that according to the investment direction in performance chemicals business to produce and sell High Heat Resistant Polyamide-9T (PA9T) (production capacity of 13,000 tons/year) and Hydrogenated Styrenic Block Copolymers (HSBC) (production capacity of 16,000 tons/year) through its joint venture company, Kuraray GC Advanced Materials Co., Ltd.
This is in accordance with the resolution of the Board of Directors of the Company No.6 / 2018 on June 18, 2018. Recently, the loan facility was signed on December 25, 2018 and the project is expected to commercially operate in 2022 with a total investment of approximately ฿15 billion.
Kuraray GC Advanced Materials has been established on June 19, 2018. PTTGC holds 33.4% shareholding, in cooperation with Kuraray Co., Ltd (KRR) (53.3% owned by its affiliated company) and Sumitomo Corporation (SC) (13.3% owned by its affiliated company).
