Thailand's PTTAR, PTTCH merger on schedule - official

06 June 2011 03:38  [Source: ICIS news]

KUALA LUMPUR (ICIS)--Thailand’s PTT Aromatics and Refining (PTTAR) expects to complete by June 2011 the physical integration of its refinery at Map Ta Phut in Rayong province with the production complex of PTT Chemical (PTTCH) at the same site, a senior PTTAR official said on Monday.

“We aim to finish the integration process by June to make sure everything is in order before we list as a new company in August,” the official said.

The merger plan is on schedule, the official said, adding that both sides have yet to decide on the name of the new company.

The market capitalisation of the new entity will be worth an estimated baht (Bt) 340bn ($11.2bn).

PTTCH runs a 460,000 tonne/year gas-based cracker, a 515,000 tonne/year mixed gas/naphtha cracker and a 461,000 tonne/year gas-based cracker at its production site at Map Ta Phut.

PTTAR, meanwhile, has a 280,000 bbl/day crude oil refining capacity and condensate intake.

($1 = Bt30.27)

For more on naphtha, visit ICIS chemical intelligence
Please visit the complete ICIS plants and projects database


By: Nurluqman Suratman



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