Thai PTTGC to decide on Malaysian petchem investment plan late 2013

BANGKOK: Thailand's largest petrochemical maker, PTT Global Chemical Pcl (PTTGC), said on Monday it planned to make a decision on a petrochemical investment plan for Malaysia in late 2013, delayed from the middle of the year.

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 Chief Executive Anon Sirisaengtaksin told reporters.

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 partnetship agreement with Indonesia's state-owned oil and gas firm, Pertamina , to build a petrochemical complex in Indonesia with an estimated cost of US$4bil to US$5bil. - Reuters

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