03 June 1996 00:00 [Source: ACN]
THAI Shinkong Industry (TSI) is building a PET plant capable of producing about 100 000 tonne/year in Mab Ta Phut, Rayong.
Construction work is underway and the plant, which will use Shinkong's own technology, will be completed by mid-1997. Investment cost is reported at about US$87m.
Potential suppliers of PTA feedstock are Tuntex in Thailand and Amoco in Malaysia, a TSI spokesman said.
Since the Thai PET requirement stands at only 20 000 tonne/year, the bulk of the output will be exported to major markets in Europe, Australia, New Zealand, China and Southeast Asia.
The company is not worried about the oversupply situation predicted to arise by the year 2000. Asia is expected to see a surplus 1m tonne/year if all announced projects come onstream. 'TSI has strong marketing and good product quality, so we are confident of staying ahead of the competition,' the spokesman said.
TSI is a joint venture between Taipei-based Shinkong Synthetic Fibres Corp (90%) and the Opaswongse family (10%). Shinkong is one of the top ten PET producers in the world.
TSI to seek Thai listing: p5
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