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BRIEF-Thai Vinythai to spend $227 mln on chemical plant in China
May 30, 2012 / 3:07 AM / 6 years ago

BRIEF-Thai Vinythai to spend $227 mln on chemical plant in China

BANGKOK, May 30 (Reuters) - Vinythai Pcl :

* Plans to invest 7.2 billion baht ($227 million) to produce and sell epichlorohydrin (ECH) chemical in China, it said in a statement

* Board also approves plan for subsidiary to buy Solvay Biochemical (Taixing) Ltd from Solvay Chemicals and Plastics Holdings B.V.; Vinythai is majority owned by Solvay SA

* The ECH project will have annual capacity of 100,000 tonnes; production is expected to start in the middle of 2014; ECH produced from the project will be sold in domestic market

* Plans to use cash and loan to finance the investment ($1 = 31.74 baht) (Reporting by Khettiya Jittapong)

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