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PTT, Pertamina plan $5-billion refinery-petchem jv; Pertamina to partner Chandra Asri in separate PP jv

8:37 AM MST | December 10, 2012 | Natasha Alperowicz

PTT Global Chemical (PTTGC; Bangkok) on Friday signed a memorandum of understanding with state-owned Pertamina (Jakarta) to invest jointly $5 billion in an integrated refinery and petrochemical complex on the island of Java, Indonesia. “We are 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,” says Anon Sirisaengtaksin, CEO of PTTGC. PTTGC plans to diversify its portfolio to include downstream specialties and green chemicals, he...

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