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Petron to Reactivate PP Plant with Thai Assistance; PTT May Be Partner in Petrochemicals Joint Venture

1:59 AM MDT | July 14, 2010 | Natasha Alperowicz

Petron Corp. (Manila) plans to reactivate a polypropylene (PP) plant at Mariveles, Bataan, Philippines with assistance from Integrated Refinery and Petrochemical Co. (IRPC; Bangkok), an affiliate of PTT Public Co. Ltd. (Bangkok), under a recently signed technical services agreement. Petron has acquired a 40% stake in Petrochemical Asia (HK), owner of Philippine Polypropylene Inc., with an option to increase the stake to 51%. Petron announced to the Philippine Stock Exchange in March that it had reached an agreement to buy the stake. The 160,000 m.t./year PP...

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