PTTGC to invest in US$5bn Java complex | Bangkok Post: business

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PTTGC to invest in US$5bn Java complex

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The SET-listed PTT Global Chemical Plc (PTTGC) yesterday signed a memorandum of understanding with Indonesia's national oil company, PT Pertamina (Persero), to invest jointly in a US$5-billion integrated oil refinery and chemical complex on Java. 

"We're confident that a partnership between PTTGC and Pertamina in a petrochemical complex will be mutually beneficial as it reflects the shared strategic intent of both companies," said Anon Sirisaengtaksin, chief executive of PTTGC, majority-owned by giant PTT Plc.

He said PTTGC plans to diversify its business into downstream specialties and green chemicals.

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