Economy August 01, 2014 00:00

By The Nation

PTT eyes getting out of Indonesian palm

PTT eyes getting out  of Indonesian palm

PTT is considering liquidation of its palm-growing business in Indonesia as agricultural business does not suit the energy giant, which focuses on exploration of coal, gas and oil, said Pailin Chuchottaworn, president and chief executive officer.

The plan will be forwarded to the PTT board for consideration.

Infrastructure meet

A junta-appointed a committee for infrastructure investment will convene next week, said Rungson Sriworasat, permanent secretary of the Finance Ministry.

The Transport Ministry and the Public Debt Management Office will meet on sources of financing for the planned investments, particularly for railway projects worth more than Bt700 billion. Given excess liquidity currently, local borrowings will be considered.

Bangchak enters nido

Bangchak Petroleum has leapfrogged into the overseas energy, natural-resources and petrochemical businesses by acquiring 19.7 per cent of Nido Petroleum, an Australian company exploring and producing petroleum in the Philippines and Indonesia.

Bangchak expects that the transaction will support an increase in revenue, net profit and cash flow in the long term.

India beckons

Thai investors should seek out business opportunities in India after its new government launched a policy to develop its infrastructure and its energy industry and proceed with a “Look East Policy”, the Commerce Ministry’s Trade Policy and Strategy Office suggested.

Egat starts up plant

The Electricity Generating Authority of Thailand started operating the second unit of its Chana power plant in Songkhla yesterday, which is meant to enhance power security in the South.