Dow chemical to do more in Asia<\/p>\n
SINGAPORE (AFP): U.S. giant Dow Chemical Co. announced
\nyesterday expansion plans in Thailand, China, Singapore and
\nIndia and forecast Asia-Pacific turnover to more than double to
\nUS$6 billion in 2005.<\/p>\n
\"Our plans include potential integrated petrochemical sites in
\nthe Association of Southeast Asian Nations or ASEAN and China to
\nsupport rapidly growing downstream products,\" company President
\nWilliam Stavropoulos told reporters here.<\/p>\n
Dow's sales in the Asia-Pacific, totaling 2.6 billion dollars
\nlast year, represent more than 10 percent of the company's global
\nturnover.<\/p>\n
Stavropoulos disclosed that Dow had entered into a 50:50
\nagreement with its established Thai partner, Siam Cement, to
\nbuild the U.S. company's first polyethylene production facility
\nin Asia.<\/p>\n
Dow is the world's largest producer of polyethylene, a
\npetroleum-based chemical used for making, among other things,
\nplastic bags, films and carpet backings.<\/p>\n
The \"world scale\" facility, to be built in Thailand's Map-Tu-
\nPhut industrial complex, would cost $120 million and would have a
\ncapacity of 300,000 tons per year.<\/p>\n
It will be the first facility of its kind in the region and is
\nscheduled to come on stream in 1999.<\/p>\n
\"This investment is a key, strategic step for the global
\npolyethylene business of Dow plastics and demonstrates our strong
\ncommitment to be a key supplier to customers through ASEAN,\"
\nStavropoulos said.<\/p>\n
Apart from Thailand, ASEAN comprises Brunei, Indonesia,
\nMalaysia, the Philippines, Singapore and Vietnam.<\/p>\n
Dow's current Southeast Asian investments include other joint
\nventures with Siam Cement and Indonesia's Salim Group.<\/p>\n
Stavropoulos said Dow was investigating the viability of
\nbuilding a polyethylene derivatives complex in either Thailand,
\nIndonesia or Singapore to support growth.<\/p>\n
The company is also expanding its office in Singapore to
\ncreate a business and administrative center for regional
\nactivities in Asia -- Dow's fourth in the Asia-Pacific after Hong
\nKong, Tokyo and Sydney.<\/p>\n
In China, Stavropoulos said Dow was looking into developing an
\nintegrated petrochemical complex in the Tainjin area. The initial
\nproject scope includes a 600,000 ton naptha cracker and major
\nderivative plants.<\/p>\n
\"We are in active negotiations with Sinopec, the leading
\npetrochemical company in China, as a potential partner. We expect
\nto finalize a letter of intent during the first half of 1997,\" he
\nsaid.<\/p>\n
Dow had already signed a letter of intent with another Chinese
\nfirm, Yangzi Petrochemical Company, to build a plant producing
\npolyester in Nanjing.<\/p>\n
Polyester is used for making fashion products, plastic soft
\ndrink bottles, video tapes and x-ray films. The company is also
\nsetting up a factory producing another chemical product,
\npolystyrene, in China.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/dow-chemical-to-do-more-in-asia-1447893297",
"image": ""
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