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(plastemart) -- The PTT Group’s plan to
merge its refining and petrochemical units to create synergy and improve cost
efficiency has been on the planning board for over a year. Plan for
consolidation is facing further delays as a number of legal issues need serious
discussion. The first phase is expected to focus on PTT Aromatics and Refinery,
the country's largest integrated aromatics refinery, which is 49% owned by PTT,
and IRPC, 36% owned by PTT.
The merger would create Asia's eighth-largest oil refiner, but is faced with
concern related to outstanding lawsuits lodged by Prachai Leophairatana, the
founder of Thai Petrochemical Industry, which PTT acquired in a debt
restructuring.
mrcplast.com |
