Thailand's PTT shows interest in US$400 mln Philippine petrochem JV

03-Feb-09
Thailand's public-listed company PTT Public Co. Ltd. (PTTPC) is in discussions with Philippines' JG Summit Holdings Inc., owned by Gokongwei group for a likely petrochemical joint venture agreement, Manila Bulletin reported. However, the details of the possible joint venture remain to be disclosed. As per the expansion blueprint drawn by Thai conglomerate, one of the major sources of Philippine petrochemical feedstock, PTT intends to outlay US$ 400 mln into the Philippine petrochemical industry besides investing US$700 mln for multiple natural gas projects in the country.
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