PTTGC in joint-venture talks with Pertamina

Thailand?s PTT Global Chemical (PTTGC) is expected to make a final decision before the end of this year on whether it will proceed with a plan to partner with Indonesia?s state-owned oil and gas firm Pertamina in investing in a petrochemical business complex.

PTTGC chief executive officer Anont Sirisaengtaksin was quoted by The Nation as saying that the company was in talks about a possible joint venture with the state oil-and-gas giant.

Indonesia has a sizeable petrochemical market and more oil and gas companies will rush in after the inception of the Asean Economic Community in 2015, he added.

PTTGC is PTT's petrochemical flagship and has a combined production capacity of olefins and aromatics at 8.2 million tons per year and combined petrochemical products of 228,000 barrels per day.

It recently acquired a 51-per-cent stake in Perstorp Holding France SAS for 114.8 million euros (Bt4.54 billion) and renamed it VENCOREX Holding.(*)