PTT Global Chemical Public Company Limited (GC) and SCG Chemicals Public Company Limited (SCGC) have provided an update on their joint venture study, confirming that plans are progressing on schedule. Both companies have entered the confirmatory due diligence phase to assess key transaction terms and quantify expected synergies from combining their assets and capabilities.
The proposed joint venture is structured to build a regional petrochemical player and enhance Thailand’s industrial competitiveness. By merging operations, GC and SCGC aim to improve operational efficiency through increased scale, integrated supply chains, optimized feedstock management, and an expanded focus on high-value-added downstream products.
The scope of the study covers GC’s olefins and polyolefins businesses in Thailand, including its stake in HMC Polymers Co., Ltd., as well as SCGC’s domestic olefins crackers, polyethylene (PE), and polypropylene (PP) plants. It also includes SCGC’s equity stakes in Siam Polyethylene Co., Ltd., Siam Synthetic Latex Co., Ltd., Thai MMA Co., Ltd., and Bangkok Synthetics Co., Ltd. The new entity would assume ownership of these respective shares upon establishment.
Under the current transaction framework, GC is expected to hold a majority stake, with SCGC maintaining a significant shareholding. Both parties expect to finalize key transaction parameters—including the ownership structure, execution steps, and quantified synergies—by October 2026.
The confirmatory due diligence process will allow both companies to validate information needed to establish the final structure and terms. Following this phase, filings will be submitted to the Trade Competition Commission of Thailand (TCCT) for regulatory approval. The transaction remains subject to internal corporate approvals and relevant regulatory consents.
GC and SCGC plan to complete the study thoroughly to strengthen supply chain efficiency, reinforce Thailand’s petrochemical sector, and support domestic customers and business partners in competing globally.
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