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Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE


Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice President Tevin Vongvanich said Thursday.

"We regularly restructure our businesses in a move to improve our competitiveness and to suit the current situation. This is also our plan for the future, which will include more investments overseas," said Tevin. Its new structure will focus on coal, oil and natural gas.

PTT targets to triple the size of its coal business in the next 10 years and is looking to invest in the coal business in Australia and Indonesia, said Tevin, who oversees corporate strategy and development. PTT posted a full-year net profit of THB51.70 billion last year on sales of THB2 trillion.

Its coal business will range from coal-to-gas and coal-to-liquid to power generation from coal-fired power plants, he added.

Earlier this year, its unit PTT International Co acquired a 60% stake in Straits Bulk & Industrial Ltd., which owns coal mines in Indonesia.

Tevin said PTT's natural gas business will continue to cover both upstream and downstream activities, involving investments in the petrochemical business.

PTT is also considering investing in the retail oil business in Southeast Asian countries, he added.

source:http://www.easybourse.com/bourse-actualite/gold-fields/ptt-restructuring-business-diversifying-into-coal-ZAE000018123-678796



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