18 unfinished projects of Siam Cement impacted by court ruling on environmental concerns

04-Dec-09

18 unfinished projects - mostly petrochemical operations, of Siam Cement have been impacted at the Map Ta Phut industrial estate. These 18 projects that involve an investment outlay of 57.5 bln baht (US$1.74 bln), will be suspended after a court ruling on environmental concerns. An order of the Central Administrative Court encompassed suspension of operations at 76 industrial projects worth US$9 bln at Map Ta Phut until total assessment of their environmental and health impact. This will negatively affect the start up of projects- particularly those slated for commencement in Q1-2010. The company’s existing production capacities will not be affected. 30% stake in Siam Cement is owned by the Thai Royal Family's Crown Property Bureau. Thailand's top industrial conglomerate has stakes in over 100 petrochemical, cement, paper and related businesses.