11 January 2005 07:14 [Source: ICIS news]
SINGAPORE (CNI)--Thai Olefins Co (TOC) and Cognis Thai signed an agreement on Monday to form a joint venture to produce fatty alcohol ethoxylates, a TOC official told CNI on Tuesday.
This is part of TOC’s plan to invest some $115m (Euro87.63m) over the next two years to produce its own ethylene oxide (EO) supply and to move into the domestic EO derivatives market. This will help the company diversify and move away from its petrochemical base.
The 50:50 joint-venture, Thai Ethoxylate Co, will have a capital of Baht420m ($10.7m/Euro8.2m). It will produce 50 000 tonne/year of fatty alcohol ethoxylates, which are used to produce consumer products such as shampoo and liquid soap.
Thailand imports all of its fatty alcohol ethoxylates supplies for its huge consumer goods production market, and TOC aims to meet the domestic demand when its plant comes onstream in 2006.
The company will spend Baht880m build a new EO production unit. The EO will be used as feedstock for the new downstream projects to produce ethoxylates, ethanolamines and choline chloride. The company has yet to finalise the details for the EO project.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|