Thai PTTGC to decide on investment in Malaysian petrochem in 2013

02-Apr-13

Thailand's largest petrochemical maker, PTT Global Chemical Pcl (PTTGC) plans to make a decision on a petrochemical investment plan for Malaysia in late 2013. This is a few months delay from the originally planned time frame of middle of the year, as per Reuters. The delay was because Malaysia needed more time to seek a partner for the downstream petrochemical business, while PTTGC is keen on the mid-stream project. PTTGC has been considering the possibility of jointly investing in that project with Malaysian state-run oil company Petronas. The Thai company has also signed a partnership agreement with Indonesia's state-owned oil and gas firm Pertamina, to build a petrochemical complex in Indonesia with an estimated cost of US$4-5 bln.