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According to the plan, Vinythai, the second largest PVC manufacturer in Thailand, will issue shares to Petronas in exchange for the two petrochemical installations, but the specific stock figures are not disclosed. Vinythai is 48% owned by Belgian drug and chemical company Solvay, and Thai PTT holds 20%. Neither Petronas nor Vinythai publicly commented on the matter.
Petronas to sell two petrochemical plants
Petronas, a Malaysian national oil company, is considering selling its two petrochemical plants to Thai plastics producer Vinythai in exchange for a stake in the company. The two petrochemical plants are a 400,000-ton/year vinyl chloride plant in northeastern Malaysia and a 100,000-ton/year PVC plant in Vietnam.