PTT Global Chemical in talks with Pertamina on Indonesia plant
PTT Global Chemical is negotiating to join with Pertamina, the national oil company of Indonesia, to set up a petrochemical plant in that country next year.
“The deal will be complete in the first quarter of 2013,” the Thai company’s chief executive officer Anon Sirisaengtaksin said. He added that the company planned to revise its five-year investment plan worth US$4.5 billion (Bt138 billion) after seeing if the global economy was still slow because of the euro crisis.
He said investment would be focused on projects that added value to its products and de-bottlenecking. “Other projects may be reconsidered according to demand in the market.”
However, he believes that the petrochemical business next year will be nearly as stable as this year although the United States and Europe still face economic problems, as Asia’s economy is still growing. This will balance the demand for petrochemicals.
Anon said the company would also focus its investment in Indonesia and Vietnam because both countries have more growth potential and purchasing power than other countries in Asean.
Meanwhile, the company is also interested in expanding its investment in Indochina, especially in Myanmar, which has plenty of natural resources.
PTT Global Chemical reported revenue of Bt423.9 billion and net profit of Bt23.61 billion in the first nine months of this year.
