MOSCOW (MRC) -- PTT Global Chemical, Tailand's leading oil and petrochemical conglomerate, has offered to partner Indonesian state-owned oil company PT Pertamina in a feasibility study to explore the potential for a new refinery project in Indonesia, reported Hydrocarbonprocessing.
After Pertamina chooses its partner, the study will be conducted to determine production capacity, investment details, and a timeframe, said Pailin Chuchottaworn, CEO of PTT, the parent of PTT Global Chemical.
PTT sees investment opportunities in Indonesia's energy sector given its huge population and potential demand, he said. As MRC informed earlier, the company will invest in Indonesia and Vietnam, as both countries have growth potential and purchasing power in the Association of Southeast Asian Nations (Asean). In addition to the investments, the company desires to increase investment in Indochina, particularly in Myanmar. Besides, PTT Global plans to make Thailand the world's bioplastic production hub by joining with two partners: Mitsubishi of Japan and NatureWorks, a subsidiary of US-based Cargill.
Separately, PTT has opened a representative office in Indonesia to facilitate the export of its products to the country, said Mr. Pailin.
Incorporated in late 2011 through a merger of PTT Chemical PCL and PTT Aromatics and Refining PCL, PTT Global Chemical has petrochemical capacity of 8.2 million tpy of olefins and aromatics and refining capacity of 280,000 bpd.
The Polymer product business produce a wide range of plastic products for use in various industries. Among the main products are HDPE, LDPE, LLDPE, PS.
MRC