Exxon announces plans to set up ethylene cracker
Texas-based Exxon Mobil Corporation plans to establish an ethylene cracker facility worth up to 200 billion baht near its existing refinery at Sri Racha, Chon Buri.
Jack P Williams, senior vice-president of Exxon Mobil, confirmed yesterday the company's investment plan while meeting with Deputy Prime Minister Somkid Jatusripitak.
Mr Somkid said the US firm's executives believe the Thai economy's prospects are very promising, with the hope the country can become an export hub for Exxon Mobil in Asia.
He said Exxon also asked the government to help seek land plots sized 600-800 rai near its existing refinery in Sri Racha, adding the ethylene cracker would need to be connected to the pipeline at the existing refinery.
The plant will also be located near Laem Chabang port because the company plans to export petrochemical products to the region.
Mr Somkid said Exxon Mobil's investment scale is expected to be on par with that in the US.
Exxon Mobil has operated in Thailand for more than 120 years through its Esso trading name.
The investment includes downstream operations, including a refinery and chemical manufacturing plant in Sri Racha, a network of distribution terminals and service stations and a strong lubricants presence.
The company operates an onshore natural gas production site in Nam Phong district, Khon Kaen province.
In addition, the company has a business support centre in Bangkok that provides accounting, human resources, information technology, retail operations, procurement, treasury and tax services, card operations and customer service to various ExxonMobil affiliates worldwide.