PTT Furthers in High-Tech Industrial Gas and Establish ฿1.5bln. Joint Venture Company
To engage in the business of the production and distribution of industrial gas, PTT has established a new joint venture company with its subsidiary and Bangkok Industrial Gas Company Limited with the total investment of approximately ฿1,500 million.
PTT Public Company Limited (PTT) has announced that on November 16, 2018, the Board of Directors has passed a resolution to approve an establishment of a new joint venture company between PTT, its designated subsidiary and Bangkok Industrial Gas Company Limited (BIG) under the name of Map Ta Phut Air Products Company Limited (MAP).
PTT and the subsidiary aggregately will hold 51% in MAP shares, while BIG will hold 49% of the shares. MAP will engage in the business of the production and distribution of industrial gas by applying technology of air separation processing utilizing waste cold energy from liquified natural gas (LNG) with the total investment approximately ฿1,500 million. However, the establishment of MAP to be subject to the satisfaction of conditions precedents (CPs), which are material for the implementation of the project.
