...SINGAPORE (S&P Global Ratings) Jan. 31, 2018--S&P Global Ratings said today that its rating and outlook on PTT Global Chemical Public Co. Ltd. (PTTGC: ###/Stable/--) are not affected by the company's potential investment in an ethylene cracker project in the U.S. The project is still at the planning stage and its impact on PTTGC's operations and finances will likely show only in 2020 and beyond--if the Thai chemicals producer proceeds with the investment. PTTGC expects to take the final investment decision in 2019. PTTGC has signed a 50/50 heads of agreement with Korean conglomerate Daelim Industrial Co. Ltd. for the project. Daelim will conduct a feasibility study of an ethylene cracker plant, with total capacity of 1.5 million tons per year and a downstream polyethylene facility, to be built in the state of Ohio in the U.S. It includes the front-end engineering design; engineering, procurement, and construction bidding; and funding of the project. We would regard the U.S. ethylene cracker...
