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Thai Petroleum invests in Indonesian market

 Last Update: 2021-09-12
 Source: Internet
 Author: User

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com.
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The refining company of Thailand's National Petroleum Corporation (PTT) recently stated that it will inject capital into Indonesian petrochemical giant Chandra Asri Petrochemical and obtain a 15% stake in it
.

It is expected that by the end of September, TOP will acquire new shares issued by the company at a price of up to US$914 million to fully enter the Indonesian market where demand for petrochemical products is growing

It is understood that the olefins produced by Chandra Asri account for 50% of the Indonesian market
.

The funds raised through the issuance of new shares will be used to expand the petrochemical production line

Affected by the drop in oil prices, TOP finally lost 3.
3 billion baht last year (compared to a profit of 6.
2 billion baht in the previous fiscal year)
.

At the same time, Chandra Asri’s net profit was US$51.

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