Costs rise on Asahi Kasei's Thai ACN, MMA JV

26 March 2008 08:02  [Source: ICIS news]

MUMBAI (ICIS news)--The costs of Asahi Kasei Chemical's joint venture to build an acrylonitrile (ACN) plant and a methyl methacrylate (MMA) unit in Mab Ta Phut in Rayong, Thailand have increased to $760m (€486m) from $750m, the Japanese producer said on Wednesday.

The joint venture PTT Asahi Chemical Company (PTTAC), which has a shareholding pattern of 48.5% each by the local PTT and Asahi Kasei and 3% by Marubeni Corp, is implementing the project, it added.

The joint venture was established with initial capital of Thai baht (Bt) 200m ($6.35m), which the three parties have agreed to increase to Bt12.4bn, the company added.

The project is expected to start commercial production by 2010, it added.

($1 = Bt31.48)

For more on ACN and MMA visit ICIS chemical intelligence

By: Isha Jha
+65 6780 4359

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