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Solvay to invest $184 mln in new Thai plant - BOI

Wed Jan 30, 2008 11:26pm EST

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BANGKOK, Jan 31 (Reuters) - Belgian drugs, chemicals and plastics maker Solvay (SOLB.BR) plans to build a 6.07 billion baht ($184 million) chemical plant in Thailand, the state-run Board of Investment said on Thursday.

The BOI board had approved investment incentives for the plant, which would produce epichlorohydrin, a feedstock for epoxy resins, on the Map Ta Phut industrial estate in the eastern province of Rayong, the agency said in a statement.

Epoxy resins are used widely in the electronics, automotive, aerospace and windmill sectors.

In September, Solvay said the 100,000-tonne a year plant should be operational at the end of 2009 and use Solvay's Epicerol process, based on the transformation of glycerine, a renewable by-product of the biodiesel industry.

The Belgium firm also holds a 50 percent stake in Vinythai PCL VNT.BK, Thailand's second-largest polyvinyl chloride producer. ($1 = 33.04 Baht) (Reporting by Khettiya Jittapong; Editing by Michael Battye)



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