Thailand’s second largest LPG trader Siamgas and Petrochemicals Pcl (SGP) has entered into a joint venture with a Burmese partner to set up a gas-processing plant in Myanmar with total investment of not exceeding 100 million baht ($2.81 million).
SGP’s deputy managing director Jintana Kingkaew said, it was in the process of searching for a location and would begin construction in the third quarter. GP will hold majority stake in the JV, she added.
The firm has been in negotiations to acquire LPG warehouses in the Philippines and Indonesia and hopes to close them this year. The company has set aside 500 million baht to set up two new LPG gas stations this year.
She said, global LPG demand, especially from China, had surged drastically in the first quarter. Therefore, it was considering revising the sales target up from 2.97 million tonnes this year.