Thai petrochemical giant PTT Public is selling its 40% stake in PTT Phenol Company (PPC) to PTT Global Chemical (PTTGC), a major shareholder with 60% stake in PPCL, for Baht4,976 million, in line with what it says is to strengthen PTTGC’s position as a petrochemical flagship as well as to create value enhancement and synergy. PPCL is a producer of phenol compound with all of its feedstock (benzene and propylene) supplied by PTTGC. Its production facilities are located in Map Ta Phut industrial estate, Rayong province. Currently, PPCL has a nameplate capacity of 200,000 tonnes/year for phenol, 124,000 tonnes/year for acetone, and 150,000 tonnes/year for BPA.