Thai PTT new CEO keeps an eye on 5 expansion plans


 (Photo: PTT GC)

In last Friday's (1/25) board meeting, Thai PTT, the largest national oil conglomerate in Thailand, approved the appointment of Kongkrapan Intarajang, the current CEO of PTT Global Chemical (PTT GC), as the 11th CEO of the group, succeeding Athapol Lerkpaibul. Kongkrapan is expected to lead the high-profile project recently approved by the group at the end of last year, attracting significant attention from the industry.

In response to the Thai government's New S-curve initiative, PTT Group approved a 5-year investment plan on December 21st of last year (2024-2028), totaling 89 billion Thai Baht (about 2.5 billion USD), to develop an ecosystem for electric vehicle batteries and other sectors. The budget is allocated across five main categories, natural gas business, natural gas pipeline business, cross-border trade and downstream oil industry, new businesses, infrastructure, and headquarters office as well as wholly owned subsidiaries.

PTT Group is a state-owned energy company in Thailand, with the Ministry of Finance holding a 51% stake, making it the largest shareholder. It is also regulated by the Ministry of Energy. The company was listed on the Stock Exchange of Thailand in 2001. PTT Group has consistently played a role in driving government energy policies. In 2022, the group's revenue exceeded 3 trillion Thai Baht (about 84 billion USD).

During his tenure as CEO of PTT Global Chemical (PTT GC), Kongkrapan successfully propelled the company onto the Fortune Global 500 list in the energy sector, while also expanding its chemical products business. In 2021, the company made a significant move by acquiring the European chemical giant Allnex Holding GmbH for 140 billion Thai Baht, establishing a leading position in the field and expanding its presence in the Asia-Pacific and emerging markets.

With over 30 years of experience at PTT, Kongkrapan holds positions as both Vice CEO of PTTEP, the petroleum exploration arm of PTT, and Chairman of Global Green Chemicals (GGC). He advocates for the adoption of Carbon Capture and Storage (CCS) technologies and other initiatives in factories to reduce overall carbon emissions by 25%, aligning with the company's goal of achieving net-zero carbon emissions by 2050.

Thai media outlet "The Nation" analyzed three major challenges facing Kongkrapan upon assuming office: transitioning the enterprise towards low-carbon operations, coping with rising energy costs, and intensifying market competition. According to PTT Chairman Chatchai Promlert, Kongkrapan is set to take office on May. 13 of this year.

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