PTT ponders group appeal

       In order to ease the impact on its fiveyear investment plan of a court injunction to suspend 76 industrial projects in Map Ta Phut, PTT Plc is seeking new ways to move its projects forward, said PTT chief financial officer Tevin Vongvanich.
       "A decision will be made by next week as to whether the private sector will submit an appeal by ourselves. Last week we joined other private companies to study ways to submit an appeal ourselves rather than waiting for state agencies to do this alone," said Mr Tevin.
       Projects worth 400 billion baht were ordered to halt construction by the Administrative Court on Sept 29. Of the total,25 are being developed by subsidiaries and affiliates of PTT, with a value of up to 120 billion baht.
       The ongoing projects include PTT's sixth gas separation plant, which was due to be operational by the end of this year, petrochemical plants, and an up-graded refinery to meet Euro4 emission standards for its subsidiary PTT Aromatics and Refining (PTTAR).
       PTT's five-year investment plan included 230 billion baht for PTT alone excluding its subsidiaries, with most of those projects implemented this year and next.
       "If an appeal is rejected, construction and planning will be delayed indefinitely," said Mr Tevin.
       Financial institutions that provided loans to PTT have not asked it to return the money, as they are willing to support PTT, he added.
       He said he also supported the private companies' joint proposal that the government establish a 100-billion-baht fund to alleviate the economic suffering of firms that have been affected by the order.
       Shares of PTT closed yesterday on the Stock Exchange of Thailand at 269 baht, up two baht, in trade worth 1.99 billion baht.