We are waiting to see PTT Myanmar Soon. Thailand’s biggest oil and gas conglomerate, is about to set up PTT Myanmar, a new subsidiary to oversee investment in the neighboring country as part of its US$2-3 billion investment plan there until 2016, including in projects such as a 150,000-barrels-a-day crude oil refinery, coal mines and a power plant.
Nattachat Charuchinda, chief operating officer of the petroleum group, said ‘PTT sees Myanmar is rich in natural resources and the group itself has long been familiar with Myanmar’s authorities. We’re keen on investing in setting up a 150,000-bpd refinery as well as a petrochemical business in Myanmar.’
Mr Nattachat said as part of its drive to expand in Southeast Asia, PTT, which plans to invest more than $11 billion from 2012-16, is also interested in investing in a petrochemical complex in Vietnam similar to the one now operated by PTT Global Chemical Plc (PTTGC).