Thailand’s state-controlled company PTT plans to consolidate its petrochemical and refinery businesses, as per Reuters. The company seriously studying 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. Two of the three companies will be merged in the first phase. The merger is expected between IRPC, which operates Southeast Asia's biggest integrated petrochemical complex, and aromatics-based refiner PTT Aromatics and Refining. But recent challenges at IRPC have triggered speculation PTT would instead look at merging PTT Aromatics and top olefin maker PTT Chemical.
11-Jan-11 
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