PTT revives plan to consolidate 4 listed refining and petrochemical units

13-Apr-09

In a bid to take advantage of favourable timing due to cheap stock prices and poor sentiments, PTT has revived a plan to consolidate four listed refining and petrochemical units- Thai Oil, PTT Aromatics and Refining (PTTAR), PTT Chemical and IRPC, for better efficiency. The feasibility is being studied, with the focus on cost-cutting and resource-sharing, and will be clearer by end of year. Either Thai Oil and PTTAR could be paired up and PTT Chemical merged with IRPC, or two holding entities could be set up to oversee the two refiners and two petrochemical plants, with the holding companies listing on the bourse, or all four could be blended into a single entity.