PTTGC eyes petrocomplex investment in US
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PTT Global Chemical, a chemical business arm of PTT, is eyeing to forge joint investment in a petrochemical complex with a Japanese partner.
The complex with expected capacity of 1 million tonnes of ethylene will use shale gas from the United States as feedstock, said Patiphan Sukhonthaman, the executive vice president for finance and accounting.
He just finished a trip to the US to seek consultation with the authorities on the project.
Potential sites for the petrocomplex - estimated to cost about US$5 billion in investment - are in Ohio, West Virginia or Pennsylvania.
PTT will hold a 51 per cent stake in the venture, while the Japanese partner who is involved in petrochemical product trade in the US would hold the rest.
The board of directors has approved the project in principle. The feasibility study should be completed within a year from now, Patiphan said.
