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PTT Global to invest USD4.5 billion during 2014-2018

January 15/2014

MOSCOW (MRC) -- Thailand's largest petrochemical maker, PTT Global Chemical Pcl plans to invest USD4.5 billion from 2014 to 2018, mostly on foreign expansion, reported Ein News with reference to the company's chief executive's statement.

The amount is unchanged from previous estimates. The company will use its revenues for about USD2.5 billion while the rest will come from bank loans or bond issues, Bowon Vongsinudom, president and CEO of PTT Global, told reporters.

"We recently raised USD1 billion via a bond issue and whether we will sell more bonds or seek loan will depend on our study on large foreign investments," Bowon said.

PTT Global, 49% owned by top energy firm PTT Pcl, is considering the possibility of overseas investments especially in Indonesia, China, Malaysia and Vietnam, he said.

As MRC informed previously, the Thai firm has already joined Indonesian state oil and gas firm Pertamina to build a petrochemical complex in Indonesia with estimated cost of USD5 billion.

Besides, earlier, last summer, Pertamina signed an agreement to purchase petrochemical products from  PTT Global Chemical. The agreement serves as a pre-marketing strategy for Pertamina and PTTТs joint Indonesian petrochemical business. Under the agreement, PTT will deliver at least 5,000 tonnes of polyethylene and polypropylene products each month to Pertamina for sale in Indonesia.

PTT Global Chemical is a leading player in the petrochemical industry and owns several petrochemical facilities with a combined capacity of 8.45 million tonnes a year.
Author:Margaret Volkova
Tags:PP, PE, neftehimiya, Pertamina, PTT Chemical, Indonesia, Thailand.
Category:General News
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