PTT funds new projects
PTT Plc has shown its confidence amid the unstable economic and political situation by moving forward with a number of projects including a new plastics plant, a third gas pipeline and a sixth gas plant, said president Prasert Bunsumpan yesterday.
Prasert said PTT needs to expand its enterprises because it is currently operating at full capacity.PTT Phenol Co Ltd, a joint venture in which PTT has a 40-per-cent stake and PTT Chemical Co Ltd and Aromatics (Thailand) Plc each have a 30-per-cent stake, yesterday signed an Bt8.32-billion loan deal with five local banking syndicates. The loan is to fund construction of a Phenol plant, which Prasert said would be a stepping stone for the PTT Group to begin producing bisphenol-A (BPA) and polycarbonate, two speciality plastics used in the auto industry and the manufacture of DVDs and CDs. "After signing this Bt8.32-billion loan, we hope we will soon have a chance to take part in another loan-signing ceremony for another project: the BPA plant," said Prasert. The company needs another Bt20 billion to construct the BPA and Polycarbonate plant, which will be completed in 2010, he said. Speaking on oil, Prasert said he didn't believe prices would fall below $40 (Bt1,500) a barrel. Despite declining prices, he confirmed PTT would continue researching alternative fuels. Chalida Ekvitthayavechnukul The Nation
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