PTT to invest 600 bln baht in the next five years for petrochem expansion

07-Dec-05

Thailand is gearing up to meet the ever-increasing demand for energy and petrochemical products and reduce reliance on imports. Thailand's state-owned oil firm PTT Public Company Limited (PTT) plans to invest up to 600 billion baht in the development of the gas and petrochemical industries. This is in line with its plans to become a global business player within five years, quadruple its revenue derived from international trade and investment from 5% (900 billion baht) to 20%. As part of the 5 year strategy, PTT will target boosting market capitalisation from 600 billion baht at present to one trillion baht. Of the planned investment, 200 billion baht will be earmarked for the construction of three new natural gas separation plants; about 100 billion baht will be invested in a gas pipeline; and 300 billion baht will be put into the third development phase of the petrochemical industry.