05 August 1995 00:00 [Source: ACN]
THE shareholding structure of Siam Cement's planned cracker in Thailand has not been finalised, but a decision is expected to be made known in two weeks' time. The company has already confirmed three shareholders, and is in discussions with Bangkok Polyethylene to take a share of its cracker instead of setting up one of its own (ACN 13 March, p22).
The ownership lineup is vital to the company's strategy for its 600 000 tonne/year cracker, which places importance for the cracker's viability on securing downstream customers which will offtake product. It will also be instrumental in the company's application to the country's Board of Investment for project approval, which it intends to submit this month (ACN 1 May, p4).
The three derivative companies which have confirmed their interest in joining the venture are Thai Plastics and Chemicals, Bangkok Synthetics and HMC Polymers. In addition, Siam Cement's wholly owned subsidiary, Thai Polyethylene, will be expanding its hdPE plant from 120 000 to 320 000 tonne/year, and its PP plant by 100 000 tonne/year to 220 000 tonne/year, to come onstream in 1997.
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