BANGKOK, Aug 5 -- Thailand's petroleum giant PTT is expanding its operations in Indonesia.
According to Prasert Bunsumpun, PTT Plc director and PTT Global Chemical Plc (PTTGC) chairman, said the company had its subsidiaries increase their investment in Southeast Asia to respond to the upcoming formation of the ASEAN Economic Community.
For Indonesia, PTTGC signed a memorandum of understanding with Pertamina to invest US$4.5 billion in refineries and petrochemical production mainly to serve demand in Indonesia with its population of over 200 million, he said.