PTTGC studying Bt200 bn expansion of US plant

Supattanapong said the company was undertaking a study on the expansion after its subsidiary PTTGC America signed a memorandum of understanding with JobsOhio to collaborate on a corporate social responsibility programme if the company opted to proceed with the additional investment.
He made the comments while joining in with Prime Minister Prayut Chan-o-cha on Monday as part of the leader’s visit to the US.
 JobsOhio is a non-profit organisation that seeks to boost job creation and new capital investment in the US state by attracting new business and encouraging increased investment.
Supattanapong said the study into the expansion of the company’s petrochemical complex in the US would be completed next year.
“Whether or not we increase our investment in the US depends on the business opportunities and we have to wait and see on the US’s policy on investment promotion from overseas and what incentives may be offered,” he said.
“We would also have to negotiate with strategic partners who may be interested in expanding their investment in the USA.”
Japan-based Marubeni Corporation has indicated its willingness to join in with PTTGC, but the company has to negotiate with others partners before making a decision on whether to expand the investment in the US, he said.
“This project may or may not proceed, depending on the outcome of the study and discussions with our partners. This will finalised in 2018,” he said.
Supattanapong said if the company decided to proceed, the project would require an investment budget of US$5.7 billion, about Bt200 billion. The plant would a have a capacity to produce 1 million tonnes of ethylene a year.