Thailand’s PTT delays Malaysia investment

RefineryThailand’s largest petrochemical maker, PTT Global Chemical Pcl (PTTGC), said on April 1 it planned to make a decision on a petrochemical investment plan for Malaysia in late 2013, delayed from the middle of the year, Reuters reported.

The delay was because Malaysia needed more time to seek a partner for the downstream petrochemical business, while PTTGC is keen on the mid-stream project, PTTGC Chief Executive Anon Sirisaengtaksin told reporters.

PTTGC has been considering the possibility of jointly investing in that project with Malaysian state-run oil company Petronas.

The Thai company has also signed a partnership agreement with Indonesia’s state-owned oil and gas firm, Pertamina, to build a petrochemical complex in Indonesia with an estimated cost of $4-5 billion.

Pertamina owns and operates 5 refineries throughout Indonesia. It is ranked the 5th largest in Asia so it has large potential to integrate its refinery and petrochemical businesses. With these advantages, Pertamina is determined to be a major player in Indonesia and the region.

This partnership project aims to build a 1-million-tonnes naphtha cracker as well as downstream polymer units on Java to serve rising demand for petrochemical products in Indonesia and consequently, reduce dependency of imported products.

 



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Thailand’s largest petrochemical maker, PTT Global Chemical Pcl (PTTGC), said on April 1 it planned to make a decision on a petrochemical investment plan for Malaysia in late 2013, delayed from the middle of the year, Reuters reported. The delay was because Malaysia needed more time to seek a partner for the downstream petrochemical business, while PTTGC is keen on the mid-stream project, PTTGC Chief Executive Anon Sirisaengtaksin told reporters. PTTGC has been considering the possibility of jointly investing in that project with Malaysian state-run oil company Petronas. The Thai company has also signed a partnership agreement with Indonesia’s state-owned...

RefineryThailand’s largest petrochemical maker, PTT Global Chemical Pcl (PTTGC), said on April 1 it planned to make a decision on a petrochemical investment plan for Malaysia in late 2013, delayed from the middle of the year, Reuters reported.

The delay was because Malaysia needed more time to seek a partner for the downstream petrochemical business, while PTTGC is keen on the mid-stream project, PTTGC Chief Executive Anon Sirisaengtaksin told reporters.

PTTGC has been considering the possibility of jointly investing in that project with Malaysian state-run oil company Petronas.

The Thai company has also signed a partnership agreement with Indonesia’s state-owned oil and gas firm, Pertamina, to build a petrochemical complex in Indonesia with an estimated cost of $4-5 billion.

Pertamina owns and operates 5 refineries throughout Indonesia. It is ranked the 5th largest in Asia so it has large potential to integrate its refinery and petrochemical businesses. With these advantages, Pertamina is determined to be a major player in Indonesia and the region.

This partnership project aims to build a 1-million-tonnes naphtha cracker as well as downstream polymer units on Java to serve rising demand for petrochemical products in Indonesia and consequently, reduce dependency of imported products.

 



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Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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1 COMMENT

  1. Even though Thailand’s business deal with Malaysia has been delayed, Thailand continues to mobilize through its partnership agreement with Indonesia. This new partnership will benefit both parties and will satisfy the high demand for petrochemical products in Indonesia. However, the true impact of the petrochemical complex will be evident once it is completed and running.

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