The hottest PTT strives to be the Asian pioneer of

2022-08-12
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PTT strives to be the Asian pioneer of renewable chemicals

PTT global chemical company in Thailand is actively engaged in the field of renewable chemicals to respond to the strategic goal of renewable chemicals development proposed by the Thai government. Recently, a series of investment activities have established its image as a global player in the field of bioplastics and renewable chemicals, and also made it a green technology pioneer in Asia

since 2006, the Thai government has been committed to the development of bioplastics industry, because the country has the advantages of agricultural raw material resources, especially cassava and sugarcane. At present, the annual output of cassava and sugarcane in Thailand has reached 30million tons and 80million tons respectively

in October this year, PTT global chemical company announced that it had invested US $150million to acquire 50% equity of NatureWorks, a producer of polylactic acid (PLA), from Cargill, an American agricultural conglomerate. Naqiwalker plans to build a 300 million pound/year (136000 tons/year) PLA plant in Thailand, which is expected to be put into operation by the end of 2015. In January of this year, the company also invested US $60million in McLaren technology, an American manufacturer of biological succinic acid

according to veerasak kositpaisal, the president of the company, said: "although our core business is in the petrochemical field, we also hope to develop in green chemical industry, because green chemical industry has a good development prospect, especially in Thailand, we have sufficient agricultural raw materials with price competitive advantages." The leader further pointed out: "we are considering the market demand for bioplastics, the production capacity of agricultural resources and the cost of raw materials. Considering the actual situation in Thailand, we will give priority to using cassava and sugarcane as raw materials. At present, these products are basically used for export, and plastic ropes (begging and learning ropes in some places) are used in our lives." It is made of linear polyethylene or polypropylene. We plan to convert 10% - 20% of the export volume into PLA as raw materials. We have evaluated such projects and believe that the prospect is very good. "

according to the National Innovation Agency of Thailand, Thailand is currently one of the three largest plastic exporters in Asia and one of the largest resin producers in the world. In 2008, the National Innovation Agency of Thailand used 1.8 billion baht (about 58.5 million US dollars) for bioplastics innovation projects to support the government's grand blueprint for developing the bioplastics industry. Among them, 1billion baht is used for the development of new technologies, and 100million baht is used for the research and improvement of equipping with corresponding functional attachments to realize the static load of typical concrete structures such as beams, columns, plates and frames, bridges (full-scale and model), steel truss, rubber bearings, fastener assembly, steel strand anchorage, all kinds of springs, riggings, slings, ring connections, steel rails and their welded joints, automobile chassis, automobile front and rear bridges, locomotive bogies and various large components Dynamic load performance test and dynamic load fatigue life test bioplastics raw materials, 475million baht for industrial development, 225million baht for upgrading industrial standards. The Thai government has created a good investment environment for the development of the bioplastics industry: companies engaged in the bioplastics industry can be exempted from corporate income tax within eight years, and the corporate income tax will be halved in the next five years

it is understood that PTT global chemical company has been engaged in the development of a wide range of bio based chemicals business, not just bioplastics. The company's special experimental machine fixture investment in McLaren is a strategic entry point, which not only accelerates the commercialization process of the company's bio based products in Southeast Asia, but also helps to enhance the company's competitive advantage in the field of bio based chemical manufacturing. McLean is currently building the first commercial biosuccinate plant in Louisiana, the United States. The project has been partially funded by the U.S. Department of energy and the Louisiana government. The design capacity of the unit is 14000 tons/year, and it is expected to be completed and put into operation by the end of 2012. The strategic cooperation with McLean will help the company further expand the production of bio based chemicals, such as succinic acid and its derivatives, butanediol, lactic acid and its derivatives, acrylic acid and fumaric acid

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