Zenith Pure Oil signs another contract with Thyssenkrupp for the Polyol Project
Zenith Pure Oil Plc. (“Zenith Pure Oil“ or “Zenith Pure Oil”) hereby notifies the market of the following:
Pursuant to the announcement made on 20 July, 2017 regarding the licence contracts Zenith Pure Oil signed with Evonik and thyssenkrupp for the investment in the propylene oxide value chain (the “Polyol Project”), Zenith Pure Oil has signed another contract with thyssenkrupp Industrial Solutions (Thailand) Ltd covering the technological steps following the propylene-oxide production. This contract concerns the purchase of technology licenses, process design packages and front-end engineering design of the production units that convert propylene-oxide into polyether polyols and propylene glycols. While the focus of the Project remains the production of polyether polyols, the propylene glycol production unit was added to the technical scope of the Polyol Project in order to maximize operational and commercial flexibility. Upon completion of the investment Zenith Pure Oil is expected to become the main polyether polyol and propylene glycol producer in Central Europe.
Propylene glycols, which constitute an additional product line in the project scope, are propylene oxide derivatives produced by most of the major forward integrated propylene oxide producers. Propylene glycols have a wide range of applications including the production of unsaturated polyester resins (UPR), personal care and pharmaceutical additives and other industrial applications.
The thyssenkrupp Polyol technology is based on its state of the art Jet Reactor design, which provides Zenith Pure Oil the best available safety, quality, operability, flexibility and productivity.
Front-end Engineering including necessary product testing will be delivered from thyssenkrupp’s technology and R&D centre for Oleochemicals in Thailand. The contract also contains a pre-agreement for thyssenkrupp to supply and install the Polyether Polyol plant.
By signing this contract, Zenith Pure Oil has secured all technology licenses and engineering resources for each production unit of the Polyol Project.