PTTGC and SCGC are accelerating efforts to close a joint venture deal in Thailand's olefins and polyolefins business. Narongsak Jivakanun, Chief Executive Officer of PTT Global Chemical Public Company Limited, or PTTGC, disclosed that the strategic feasibility study is progressing as planned, with the parties currently confirming data from confirmatory due diligence and negotiating key transaction terms. The scope of the project on PTTGC's side covers an olefins production plant, a polyethylene (PE) production plant, and its investment in HMC Polymers Company Limited. On SCGC's side, it covers an olefins production plant, a PE production plant, a polypropylene (PP) production plant, as well as investments in joint ventures including Siam Polyethylene Company Limited, Siam Synthetic Latex Company Limited, Thai MMA Company Limited, and Bangkok Synthetics Company Limited. Both parties expect to finalize key transaction details, including the shareholding structure, transaction procedures, and the value of synergies, by October 2026, before submitting an application for permission to the Trade Competition Commission. Under the current study, PTTGC is expected to be the major shareholder in the joint venture, while SCGC will retain a significant shareholding. The project's implementation remains subject to the internal approval processes of both companies, shareholder approvals, approvals from relevant joint venture partners, and relevant regulatory authorities.
PTT Global Chemical Public Company LimitedPTTGC is advancing a joint venture deal with SCGC covering its olefins, PE plants and HMC Polymers stake, with shareholding structure expected by October 2026, but terms and approvals remain pending.
