PTT Global to invest over $ 4 billion in petrochemical projects in Asia

According to a Reuters report, PTT Global Chemical Pcl, Thailand's largest petrochemical maker, is planning to invest $4.5 billion from 2014 to 2018, mostly on foreign expansion. The amount is unchanged from previous estimates. PTT Global is considering the possibility of overseas investments especially in Indonesia, China, Malaysia and Vietnam, said Bowon Vongsinudom, President and CEO, PTT Global, in the report.
 
Thai firm has already entered into an agreement with Indonesia’s PT Pertamina to set up a world-scale petrochemical complex in Indonesia. The project, which is expected to cost of $5 billion, is likely to start commercial operation by 2018.
 
Besides, PTT Global had said in November 2013 while announcing its third quarter results of 2013 its plans to invest in petrochemical project in China in collaboration with Sinochem International. The planned project involved establishment of a polyurethane and polycarbonate production plant in China, where the demand and the growth rates are high.