Petrochemical
GC and SCGC sign MoU to explore major petrochemical joint venture in Thailand
The proposed partnership, still in its early evaluation stage, is aimed at strengthening Thailand’s petrochemical supply chain
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By ICN Bureau | April 30, 2026
PTT Global Chemical Public Company and SCG Chemicals Public Company have signed a non-binding MoU to explore a potential strategic joint venture combining their olefins and polyolefins businesses in Thailand, including polyethylene and polypropylene operations.
The proposed partnership, still in its early evaluation stage, is aimed at strengthening Thailand’s petrochemical supply chain, improving industrial competitiveness, and leveraging the country’s integrated infrastructure to boost global positioning.
Narongsak Jivakanun, Chief Executive Officer of GC, described the initiative as a step toward building a leading regional petrochemical player.
“The objective of this potential joint venture is to establish a leading petrochemical player in the region, reinforcing the global competitive advantage of Thailand’s integrated infrastructure.
"A combination of this scale offers a compelling opportunity to enhance operational efficiencies and strengthen value via value chain integration, and enable higher product value. At the same time, it aims to ensure the continuity of end-use industries in Thailand, enhance international competitive position, and contribute to the country’s economic growth.”
SCGC CEO and President Sakchai Patiparnpreechavud emphasized the broader industrial impact, stating: “This collaboration will reinforce the strength of Thailand's petrochemical industry while enhancing its resiliency and global competitiveness.
"It will further elevate Thailand's role as a regional hub for production and export, support the growth of downstream industries through a diverse portfolio of high-value-added products, address evolving market demand, and create sustainable long-term economic value for Thailand's industrial sector."
