en.Wedoany.com Reported - PTT Global Chemical Public Company Limited (GC) and SCG Chemicals Public Company Limited (SCGC) have signed a non-binding Memorandum of Understanding to jointly explore the establishment of a strategic joint venture in Thailand focused on olefins and polyolefins businesses, covering the polyethylene and polypropylene sectors. This move aims to strengthen Thailand's petrochemical supply chain, enhance the competitiveness of domestic industries, and bolster its global market position by leveraging the country's well-developed infrastructure.

GC CEO Narongsak Jivakanun stated: "This collaboration aims to create a regionally competitive petrochemical enterprise. The combined scale of operations will unlock opportunities, improve efficiency, strengthen value chain integration, and deliver higher value-added products." This is expected to support the continued development of Thailand's downstream industries and enhance international competitiveness.

SCGC CEO Sakchai Patiparnpreechavud noted: "The collaboration will enhance the resilience of Thailand's petrochemical industry and help the country become a regional production and export hub." By offering a broader portfolio of high-value-added products, the partnership supports downstream industries in responding more effectively to market demand changes, creating long-term value.

Currently, the memorandum is non-binding and marks the beginning of a detailed evaluation, including due diligence and necessary approvals, which may involve the Trade Competition Commission of Thailand. The two companies expect to complete the evaluation by the third quarter of 2026 and will operate independently until then.

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