Solvay SA has announced it will increase its investment in Thailand one of its three main Asian production bases  while pursuing opportunities in Indonesia, Singapore and India.

The Brussels-based chemical company has spent 18 billion baht in Thailand over the past four years, mainly to build two production lines, making it the largest Belgian investor.

The company has earmarked 900 million euros for capital expenditure this year, half of it for maintaining and developing existing plants.

The other half will be used to build new capacity, the vast majority of which will be for Asian markets.

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