December 2, 2024: Rayong, Thailand – GC Estate Co., Ltd. (GC Estate), a subsidiary of GC Group specializing in utilities and land leasing and sales has signed a land lease
agreement for a 60-rai plot in the Asia Industrial Estate, Rayong province, with VASMO
Co., Ltd. (VASMO). The agreement facilitates the construction of Thailand’s first chemical metal compound and alloy manufacturing plant utilizing decommissioned and unused catalysts from the oil refining and petrochemical industries.
The signing ceremony was graced by Mr.Pornsak Mongkoltrirat, Chief Operating Officer – Center of Excellence, PTT Global Chemical Public Company Limited, who extended his congratulations. The agreement was signed by Mrs.Sunutta Sukthai, Managing Director at GC Estate Company Limited, and Mr. Sittichai Talapnak, Chairman of VASMO Co., Ltd. VASMO’s directors—Ms. Nadkrita Kulsirithanakorn, Mr. Dechrid Talabnark, Mr. Ekapong Ekalap, and Managing Director Ms. Sasiwimol Prasatthong—were also present, along with shareholders including Mr. Shen Hanyu, Mr. Shen Xian Hua, and Mr. Yin Wei. The event took place at the GC Estate office in Rayong.
Mr. Sittichai Talapnak, Chairman of VASMO Co., Ltd., stated that the new facility will employ processes to extract and produce chemicals containing valuable metals such as molybdenum, tungsten, nickel, and vanadium. These products will serve as essential
raw materials for various industries, including metal oxide and alloy production, steel and stainless steel manufacturing, and EV battery production. Additionally, the products can be further developed into precursors for catalysts used in oil refining and petrochemical industries, reducing the need to import valuable metals while adding export value.
“This plant aligns with the principles of GC Group and VASMO Co., Ltd., which emphasize promoting circular economy practices,” said Mr. Sittichai. “It focuses on resource circulation within the value chain and improves the efficiency of managing waste, raw materials, expired products, and energy by leveraging modern, comprehensive eco-friendly technologies. Scheduled to begin operations in 2026, this project is expected to enhance Thailand’s economic and environmental sustainability.”
