Aiming to enhance GC’s feedstock flexibility and long-term competitiveness
PTT Global Chemical Public Company Limited (GC), the largest petrochemical and refining company in Thailand, signed a contract for a $125-million Olefins 2 Modification Project (OMP) in Thailand with Samsung Engineering, one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies. The virtual contract signing ceremony was held by video conference linking Bangkok, Thailand and Seoul, Korea.
The project, located in Map Ta Phut, Rayong province in the Eastern Economic Corridor of Thailand, will be implemented by Consortium of Samsung Engineering Company Limited and Samsung Engineering (Thailand) Company Limited on an EPC basis. Major equipment for the OMP consists of the addition of a Distillation Tower (Height 100m, C3 Splitter). Completion of the project is expected in 2023.
Dr. Kongkrapan Intarajang, CEO of GC said, “The Olefins 2 Modification Project (OMP) will allow the company to increase propane usage as feedstock and support our strategy to enhance feedstock flexibility and long-term competitiveness, while adding value through downstream business. The project is planned to operate commercially within the first quarter of 2023, at a total investment cost of approximately $165 million or 5,198 million baht (at 31.5 baht to $1).”
“GC is playing an important role in driving Thailand’s economy by investing in a multi-billion-baht petrochemical project in the Eastern Economic Corridor, or EEC. We have invested more than 106 billion baht in the EEC region from 2017-2020, and are planning to invest another 27 billion baht within five years. GC continues to drive our business and provide support in every way we can to help Thailand tackle the COVID-19 pandemic,” Mr. Intarajang further explained.
Mr. Sungan Choi, President and CEO of Samsung Engineering said: “The awarding of the ‘GC Olefins 2 Modification Project’ is not only a result of our project execution capabilities and proven track record in Thailand, but moreover shows the trust GC has in us to deliver projects efficiently.”
“Samsung Engineering is also executing the Olefins Reconfiguration Project (ORP) and the Propylene Oxide (PO) Project for GC. The sustainable and successful partnership between GC and Samsung Engineering has, over the years, led to the OMP contract. In addition, Samsung Engineering plans to drive the success of the project by using technology and expertise derived from its prior experiences in the market and local networks.”
