GC and SCGC move ahead with study on olefins joint venture, GC to hold majority stake, key terms expected by October 2026

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3▲0 ▼0Impact / 5
Summary · why it matters

PTT Global Chemical (GC) and SCG Chemicals (SCGC) announced progress on their study to establish a joint venture project, saying it remains on plan. The two companies are in the confirmatory due diligence stage to verify information, as well as discussing and setting the key terms of the transaction and assessing the benefits expected to arise jointly. The scope of the joint venture under study covers GC's olefins and polyolefins business in Thailand, including GC's shares in joint ventures such as HMC Polymers, and SCGC's olefins and polyolefins business in Thailand, which includes olefins production plants, polyethylene (PE) and polypropylene (PP) plants, as well as SCGC's shares in related joint ventures, namely Siam Polyethylene, Siam Synthetic Latex, Thai MMA and Bangkok Synthetics. Under the new joint venture to be established, GC will be the major shareholder of the joint venture project, while SCGC will hold a significant stake. Both companies expect to be able to conclude the key terms of the transaction, including the shareholding structure, the transaction process and the value of the benefits expected to arise jointly, by October 2026. In addition, both companies will submit requests for permission to the Trade Competition Commission to seek the relevant approvals, and the implementation of the joint venture project will depend on the internal approvals of both companies and the relevant regulators.

Impact on assets 1

Materials▲ · 1 stocks

Off-coverage companies 6

SCG Chemicals Public Company Limited (SCGC)Private± Mixed
Capitalrelevance

SCGC progresses its JV study with GC covering its olefins, PE/PP plants and related JV stakes, taking a significant minority stake.

Bangkok Synthetics Co., Ltd.Private± Mixed
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HMC PolymersPrivate± Mixed
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Siam Polyethylene Co., Ltd.Private± Mixed
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Siam Synthetic Latex Co., Ltd.Private± Mixed
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Thai MMA Co., Ltd.Private± Mixed
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