Dow Chemical Co remains committed to new investments in the downstream segment, including the petrochemical project to manufacture polyurethane at Map Ta Phut Industrial Estate.
Chief executive Jim Fitterling met Deputy Prime Minister Somkid Jatusripitak yesterday to offer assurances of the company’s confidence in Thailand’s investment climate.
Dow Chemical plans to invest in the first phase of manufacturing polyurethane to the tune of US$70 million (2.24 billion baht) with existing partner SCG Group. The investment will be conducted on a step-by-step basis over the next two to three years.
Mr Somkid said Thailand’s manufacturing sector is still Dow Chemical’s largest base for exporting to other Asian countries and has the potential to compete with Singapore.
The success of the company’s project in Thailand has led to the country becoming the largest Dow Chemical hub in Asia-Pacific, underlining the company’s commitment to continuing its long-term investment in Thailand.
Mr Somkid said Dow Chemical considers Thailand’s natural gas to be uniquely suitable for the petrochemical industry.
The company will focus on the downstream segment of the petrochemical industry, in line with the government’s development policy for 10 targeted industries.
Dow Chemical successfully merged with DuPont last August. The latter’s core businesses include agriculture, materials and specialty materials.
Dow Thailand Group is regarded as the largest manufacturing base for Dow Chemical in the Asia-Pacific region.
A total of 14 manufacturing facilities are under the company’s management, including operations at Map Ta Phut Industrial Estate, Asia Industrial Estate and Hemaraj Eastern Industrial Estate.
In 2012, Dow Chemical built a propylene glycol plant and polyolefin plant for encapsulant films used in solar panels at an investment cost of $3 billion.
