PTT, SCG seek go-ahead for 12 projects

SCG's six projects - together worth more than Bt30 billion - include the expansion phase of IRL Industrial Park, the catalyst unit for polyethylene production and the production of propylene oxide and propylene glycol.

Prasobsil Chotimongkol, an IEAT deputy governor and supervisor of the clinic set up to ease the impact of the Administrative Court's continued suspension of 64 Map Ta Phut projects, yesterday said BRP Steel would next week file a plea for the expansion phase of its steel-rod manufacturing project.

The clinic is also working with the owners of five projects owned by PTT Phenol, Aditya Birla Chemicals (Thailand), Bangkok Synthetics and Bluescope Steel (Thailand), and Bluescope Steel and Siam Tinplate.

The last of these have been advised to follow the court's guidelines on the 11 projects allowed to proceed, chiefly in changing locations and introducing pollution-reduction equipment.

IEAT governor Authority Montha Pranuttharanorapal said the agency had ordered Indorama Petrochem to shut down part of its operations from January 8 following a faulty waste-management system. It will have to close the entire plant in Rayong if it is not fixed by February 14.

The plant at Asia Industrial Estate in Ban Chang is the one of the world's largest for purified terephthalic acid.

Montha said a foul smell was released from the plant in December. An inspection found that the joints of the thermal oxidiser, where industrial waste is incinerated, were leaking.

Map Ta Phut Tank Terminal, responsible for the butene-gas leak at Map Ta Phut port, was allowed to resume operations on December 25.

PTT Group yesterday denied reports of a debt-rescheduling attempt. "PTT's revenue will be better than last year, because we forecast global oil prices staying at a higher level. It means our financial status remains strong. We have enough cash flow, and our creditors know it. So, we don't need to talk with them about delaying debt payment," said PTT CEO and president Prasert Bunsumpun.

He said the 18 halted projects - including the sixth gas-separation plant - were only part of the group's operations. If it could not construct or run the projects this year, income would only be slightly affected.

This is because existing projects are expected to go well and generate higher revenue than last year, thanks to increased global oil prices. There is therefore no need to talk with lenders about debt extension, Prasert said.

He recently forecast that PTT's revenue this year would grow by 20 per cent from the 2009 level, which was expected to be 20 per cent lower than the Bt2.02 trillion generated in 2008.

He also insisted PTT would conclude the plan to merge PTT Aromatics and Refining, PTT Chemical, IRPC and Thai Oil this quarter.