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PTTGC Anticipates Mid-Year Decision On JVs in China, Indonesia, Malaysia:: 25 Feb 2013 :: Bangkok - PTT Global Chemical (PTTGC) expects a final decision by the middle of this year on proceeding with joint venture projects in China, Indonesia and Malaysia, reported the Bangkok Post, citing Patipan Sukonthaman. PTTGC has signed a memorandum of understanding with Sinochem International Corp. to establish a Chinese joint venture petrochemical product that would supply the construction and auto parts sectors. In Indonesia, PTTGC has been shortlisted as a partner in a $5-billion integrated refinery and petrochemical complex planned by Pertamina on Java Island. PTTGC has also announced plans for a partnership with Malaysia's Petronas in Petronas' proposed Refinery & Petrochemical Integrated Development project in Pandering, Malaysia. These projects are among those for which PTTGC has allocated $4.5-billion between 2013 and 2017 to expand its operations. Separately, Chief Executive Anon Sirisaengtaksin said PTTGC expects earnings before interest, taxes depreciation and amortization (EBITDA) to increase between 5% and 6% a year over the next five years based on planned expansion and improved production efficiency. He believes the company’s 2017 EBITDA will be 15% to 30% higher than the 55-billion baht reported for 2012. |
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