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(Plastemart) -- Thailand’s
state-controlled company PTT plans to consolidate its petrochemical and refinery
businesses, as per Reuters. The company seriously studies the merger plan, which
should be finished in Q1-2011. Conclusion of the study will be followed by a
legal process after which the new company should be set up in Q3-2011.
PTT chief executive Prasert Bunsumpun opines that consolidation may
involve three companies that have operations in Rayong, probably in two
phases. The merger is expected between IRPC, which operates Southeast
Asia's biggest integrated petrochemical complex, and aromatics-based refiner PTT
Aromatics and Refining.
mrcplast.com
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