PTTGC and SCGC advance petrochemical joint venture talks, deal expected to conclude by October 2026

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Summary · why it matters

PTT Global Chemical Public Company Limited, or PTTGC, and SCG Chemicals Public Company Limited, or SCGC, announced progress on their study of establishing a joint venture project, saying it is proceeding according to plan. Both companies are in the confirmatory due diligence stage to verify information, as well as discussing the key terms of the transaction and assessing the expected mutual benefits from synergies arising from combining the strengths, capabilities, and assets of both parties. The scope of the joint venture project under study covers GC's olefins and polyolefins business in Thailand, including GC's shares in the joint venture HMC Polymers Company Limited, and SCGC's olefins and polyolefins business in Thailand, which includes olefins production plants, polyethylene or PE production plants, and polypropylene or PP production plants, as well as SCGC's shares in related joint ventures, namely Siam Polyethylene Company Limited, Siam Synthetic Latex Company Limited, Thai MMA Company Limited, and Bangkok Synthetics Company Limited. The newly established joint venture will become a shareholder in the above-mentioned joint ventures in place of GC and SCGC under the transaction structure currently being considered. GC will be the major shareholder of the joint venture project, while SCGC will hold a significant stake. Both companies expect to conclude the material terms of the transaction, including key details such as the shareholding structure, the transaction process, and the value of the expected mutual benefits, by October 2026. Both companies will next submit requests for permission to the Trade Competition Commission to seek the relevant approvals. The implementation of the joint venture project will depend on internal approvals from both companies and the relevant regulatory agencies.

Impact on assets 1

Materials▲ · 1 stocks

Off-coverage companies 6

SCG Chemicals Public Company Limited (SCGC)Private▲ Positive
Capitalrelevance

SCGC progresses its petrochemical joint venture with PTTGC, contributing its olefins, PE, and PP businesses and related JV stakes.

Bangkok Synthetics Co., Ltd.Private± Mixed
relevance

HMC PolymersPrivate± Mixed
relevance

Siam Polyethylene Co., Ltd.Private± Mixed
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Siam Synthetic Latex Co., Ltd.Private± Mixed
relevance

Thai MMA Co., Ltd.Private± Mixed
relevance

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