JGSOC appoints International Process Plants to evaluate sale of Batangas petrochemical complex
JG Summit Olefins Corporation (JGSOC) is evaluating sale options for its Batangas petrochemical manufacturing complex, a large-scale industrial platform representing more than $2 billion of investment and anchored by a mixed feedstock steam cracker (MFSC) with approximately 1.5 MMtpy of combined output. Spanning approximately 160 hectares, the Batangas complex houses the first and only MFSC in the Philippines and supports downstream integration to produce polyethylene, polypropylene, 1,3-butadiene, benzene, toluene and mixed xylenes.
International Process Plants (IPP) has been appointed exclusively to lead the global marketing and sale process, working with qualified industrial operators, investors, and strategic partners.
As part of the review, IPP and JGSOC are evaluating potential pathways including acquisition for continued operation in the Philippines, acquisition and relocation to another region, or participation by third-party industrial or financial investors through partnership or joint venture structures.
The Batangas complex houses one of the petrochemical platforms in Southeast Asia, which includes Mixed Feedstock Steam Cracker (MFSC) and downstream polymer, aromatics, and butadiene units located within the same manufacturing footprint. The platform includes polyethylene production capacity of approximately 570,000 TPA across multiple units, including a bimodal polyethylene unit commissioned in 2023, as well as a polypropylene unit with capacity of approximately 300,000 TPA. The complex also includes aromatics extraction unit producing benzene, toluene, and mixed xylenes, and a 1,3-butadiene extraction unit commissioned in 2022. Utilities, storage facilities, marine jetty access, advance laboratory, and supporting logistics infrastructure are integrated within the site.
Technology licensors include Lummus Technology for steam cracking, Univation Technologies and Chevron Phillips Chemical for polyethylene, W.R. Grace for polypropylene, Sulzer/GTC for aromatics extraction, and Lummus/BASF for butadiene extraction.
Since commissioning of the MFSC in 2014 and subsequent expansion phases of the complex completed in 2023, JGSOC has supplied to more than 300 domestic manufacturing customers and exported products to more than 30 international markets. The complex was developed to strengthen domestic petrochemical supply chains in the Philippines.
Operations were suspended in March 2025 in response to global petrochemical market conditions. The facilities have since been preserved and maintained to support potential restart or continued industrial use.
Mr. Lance Y. Gokongwei, President and CEO, JG Summit Olefins Corporation, said:
“The Batangas complex represents a significant industrial investment within the Philippines. This review allows us to assess the most appropriate ownership structure to support its long-term utilization.”
Mr. Ron Gale, President, International Process Plants, added:
“Our role is to lead a global sale process engaging global integrated refining and petrochemical companies, petrochemical and polymer producers, trading houses, and financial investors. JG Summit Olefins Corporation’s petrochemical manufacturing complex represents a unique opportunity given its scale in the region, process technologies and product slate, and position as the only mixed-feedstock cracker in the Philippines. Through our global network of 160,000 customers, we expect to bring forward qualified industrial and financial counterparties to evaluate future ownership alternatives for the asset, including continued operation in the Philippines or relocation to other industrial markets.”
Discussions with qualified parties will proceed through a confidential evaluation process coordinated by International Process Plants.
Comments