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Dupont working on 10-year plan for Thailand

By Nalin Viboonchart

The Nation

US science company Dupont is working on a 10-year investment plan for Thailand, saying it does not want to miss the opportunity to expand in one of Asean's key drivers of economic growth.

Carl Lukach, president of Dupont Asia-Pacific, told The Nation that Asean countries were gradually showing their growth potential, with average annual growth of 6 per cent. Dupont's businesses in many Asean countries are growing much faster than those countries' gross domestic products (GDP). Dupont therefore wants to increase its investment in the region, with Thailand among the most important destinations for investment.

"Dupont wants to be a big player in the region," Lukach said. "The company's focuses are on increasing food protection, decreasing dependence on fossil fuels, protecting people and the environment and growing in emerging markets. We call these the 'four mega-trends'."

Lukach said the company would know by the middle of next year what investments it would make in the region, including Thailand, over the next decade.

Lukach declined to reveal more about possible Thai investments but said there were some growing sectors that harmonised with Dupont's four mega-trends. The company was in talks with many big corporations in Thailand to partner in future investments, he said.

Dupont expects to generate revenue of US$250 million (Bt7.5 billion) in Thailand this year out of a total revenue target for Asia-Pacific of $900 million.

Dupont has focused its investment on the four mega-trends for several years now. The company has invested at least $1.4 billion into research and development (R&D) related to those trends. In 2011, Dupont has allocated around $1.6 billion to R&D worldwide.

This year, about 50 per cent of R&D investment was spent on increasing food production, 15 per cent on decreasing reliance on fossil fuels, 12 per cent on protecting people and the environment, 14 per cent on chemicals and 9 per cent on electronics, Lukach said.

He said Dupont had a maize-seed plant operated by its subsidiary, Pioneer Hi-Bred Thailand, in Lamphun province. Dupont invested around $15 million to $20 million this year into constructing a new maize-seed plant, with a production capacity of 12,000 tonnes per year. The first phase will be completed in July.

Meanwhile, the company also operates an R&D station in Lop Buri to develop seeds, delivering them to other Asean countries.

Meanwhile, Dupont has also developed crystalline silicon and thin films, which are used in photovoltaic solar cells. The value of photovoltaic solar energy is expected to grow from $30 billion today to $55 billion by 2012. Dupont expects its revenue from photovoltaic solar cells to reach $1 billion this year.

Thailand is very active in the renewable energy sector, particularly solar power. If photovoltaic solar energy grows in Thailand, Dupont's business will grow with it, Lukach said.

He added that the company was developing eco-plastics made from plant-based materials, such as corn for use in the automotive industry. The products are lightweight composites that help reduce fuel consumption.

Toyota has adopted Dupont's Sorona, its renewably sourced polymer, to produce ceiling surface skin, sun visors and pillar garnish for the Toyota Sai. The new hybrid sedan was developed from the Prius and was launched at the start of this month in Japan.

The Prius has already launched on the Thai market and Dupont expects other models to be sold here soon.

"Many of Dupont's customers say they will invest in Thailand more. So we have to follow our customers to this market as well," he said.

Biofuels development is also one of the company's focuses. Together with BP, it is developing biobutanol, which it believes is superior to ethanol because it can be mixed with petrol at higher concentrations than 10 per cent. Tests so far show that biobutanol does not cause harm to engines in the long term. The fuel has already been piloted in the UK.

"We've tested biobutanol by running it 24 hours a day in a vehicle for 3-4 years, and it has no problem with the engine," Lukach said. "If we can commercialise the biofuels, they will change the world's transportation industry."

-- The Nation 2010-12-20

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