Thai PTT to complete plan to consolidate refining, petrochemical businesses by Q1-10

PTT PCL is on the verge of conclusion of a closely watched plan to consolidate its refining and petrochemical businesses by Q1-2010. Since November 2009, Thailand's top energy firm’s consolidation plan has been on hold due to a court order to suspend 65 projects at the Map Ta Phut industrial estate, Rayong. The company hopes for a settlement of these issues early next year and plans to go ahead with the consolidation plan thereafter. PTT is expected, next week, to submit a petition to Thailand's Central Administrative Court to get permission to proceed with nine projects suspended earlier, given that they received operating licences before the 2007 constitution. The plan is expected to involve it's four affiliates - PTT Chemical PTTC.BK, PTT Aromatics and Refining PTTAR.BK, Thai Oil TOP.BK and IRPC IRPC.BK.
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