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Net profits skyrocket 130% at PTT Global in Q3

14 Nov '13
4 min read

The expansion of the business into oversea markets aims to expand the production base of High Volume Specialty (HVS), which has a high price and relies on a range of technologies and innovations, and make investments that will support the demand from a new generation of urban societies as well as to directly access customer groups in the countries where the company has made investments. Below is the summary of the progress of key investment projects:

Joint investment project with PT Pertamina (Persoro), a national oil company of Indonesia, aiming to jointly study and invest in petrochemical plants, both in up-stream and down-stream industries, in Indonesia. This project has an investment value of 4-5 billion USD. The joint venture agreement is expected to be signed before the end of 2013.

Joint investment project with Sinochem International of China, aiming to jointly study opportunities to cooperate an expand our respective petrochemical businesses through the establishment of a polyurethane and polycarbonate production plant in China, where the demand and the growth rates are high. This joint investment is expected to be concluded by the end of 2013.

Adjustment of management structure to support business expansion

The adjustment of the company's management structure was aimed at supervising the production and business operations to ensure suitability and consistency with the organization's strategic direction, and increase competitiveness as well as support sustainable growth, comprises of the following:

Appointing Mr. Kun Patumraj, Vice President of Engineering and Maintenance as Chief Operating Officer - Up Stream Petrochemical Business (COU), to supervise the operations at the oil refinery plant and Up Stream Petrochemical Unit, consisting of Aromatics Plant Units and Olefins Plant Units.

Appointing Mr. Athavudhi Hirunburana, Vice President of Polymer Business Unit as Chief Operation Officer - Down Stream Petrochemical Business (COD), to supervise the operations of the Polymer Business Unit, EO-Based Performance Business Unit, Green Chemicals Business Unit and High Volume Specialties Business Unit.

PTT Global

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