21 August 1995 00:00 [Source: ACN]
INDIA'S Birla Group has taken a step forward with its Thai ambitions with the gaining of approval by Thai Organics Chemicals to set up a 10 000 tonne/year epichlorohydrin plant. The plant is due onstream in 1997.
The development follows the purchase of a 49% stake, worth about Baht318.5m (US$12.8m) in Thai Organics by Thai Carbon Black earlier this year (ACN 3 April, p6), giving Birla almost 100% ownership of the chemicals producer.
The other main shareholder in Thai Organics is Thai Rayon, and a 2% stake is held by Ausseu Inc. Both Thai Rayon and Thai Carbon Black are owned by India's Birla Group. Thai Organics produces and markets epichlorohydrin, chlorine, caustic soda and hydrochloric acid, which are used as feedstocks by other Birla-controlled companies.
'Thai Carbon Black took a stake in Thai Organics so that it could help to further expand its existing business. The new plant represents our first step,' a spokesman for Thai Carbon Black told ACN.
'We will proceed with the epichlorohydrin project before deciding on new activities,' the spokesman added.
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