A bird’s eye view of TOP’s oil refinery and petrochemical industry in Sri Racha district of Chon Buri.
Thai Oil Plc (TOP), Thailand’s largest oil refinery by capacity, expects to make the last payment of its share purchase in PT Chandra Asri Petrochemical Tbk (CAP), Indonesia’s largest petrochemical producer, early next year.
TOP wants to gain a toehold in Indonesia’s growing petrochemical industry.
The payment, valued at US$270 million, will follow the first tranche of payment worth $913 million made at the end of last year, said Wirat Uanarumit, chief executive and president of TOP.
The investment should enable CAP to build a new production facility named PT Chandra Asri Perkasa (CAP2), estimated to cost $5 billion. The new…
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