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PTTAR to head for an unwinding plan
14
May '08
PTT Plc, the leading oil producing firm of Thailand, integrated its refinery by merging its affiliates Aromatic Plc and Rayong Refinery Public Company Limited (RRC), giving it an entirely new identity of PTT Aromatics and Refining Plc (PTTAR).

This unit has plans to unwind its production by February next year. Presently, PTTAR is proceeding with an investment of US $1.2 billion to expand its distillation capacity. Presently, it has 145 KBD CDU and 70 KBD condensate splitter.

An official from PTT Aromatics and Refining Public Company Limited, told Fibre2fashion, “After the amalgamation between RRC and The Aromatics (Thailand) Public Company Limited (ATC) to be a company named PTT Aromatics and Refining Public Company Limited (PTTAR) on 27 December 2007, the unwinding plan has remained PTTAR's mission. Two companies PTTAR and Star Petroleum Refinery (SPRC) will be making a new commercial agreement to maintain the benefit obtained from the Operating Alliance.”

Of the total investment budget, $938 million goes to building an aromatic complex II, which would help double its production of paraxylene, mixed xylene and benzene capacity to 2.2 million tons a year from 1.1 million tons. The new complex is expected to start production in September this year.

Another $175 million would be used for increasing distillation capacity to 280,000 barrels from 215,000 barrels per day. Operations are scheduled to start in January of next year.

Fibre2fashion news Desk - India

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