PTT plans investment in Philippines

PTT Philippines Corp., the local unit of PTT Public Co. Ltd. of Thailand, has expressed interest to invest US$300-400 million in the petrochemical industry in Philippines, mainly as a result of the bullish economic outlook in the Philippines. This amount will be in addition to the US$700 million that the company plans to spend for the development of natural gas facilities and expansion of its retail network around the country. PTT is in talks with a potential partner, possibly JG Summit. PTT has several subsidiaries engaged in the petroleum industry, namely PTT Chemical Public Co. Ltd., The Aromatics Thailand Public Co. Ltd., Bangkok Polyethylene Public Co. Ltd., PTT Polymer Marketing Co. Ltd., PTT Polyethylene Co. Ltd. and PTT Phenol Co. Ltd.
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