PTT Chemical mulls capacity expansion in neighbouring countries

28-Jan-10

Leading Thai petrochemical maker PTT Chemicals, with most expansions in Thailand, is exploring future investment opportunities in nearby countries. The company wants to follow its strategy to look at opportunities to extend our business further along lines that fit our strategies and expertise. Since the company’s strength lies in gas and plastics, it wants to focus expansion in these core areas, in ASEAN countries. The company has targeted doubling revenue to US$4.5 bln (Bt149 bln) this year. The company has expanded its petrochemical business by building a 1 mln tpa ethane cracker that will facilitate olefins production to increase from 1.8 mln tpa to 2.8 mln tpa, and increase polymer output from 500,000 tpa to 1.5 mln tpa. PTT Chemical has eight projects on the list of chemical projects suspended in Map Ta Phut. The company expects to get a quick waiver for three projects of which only one is a major project. The PTT Group's plan to merge three unit- It wants to proceed first with PTT Aromatics and Refining and IRPC, both of which own refineries. Since PTT Chemical is not included, it could imply that the Map Ta Phut crisis will not derail the merger.