Thai Oil Plc looks to acquire stake in ethanol plant

Thai Oil Plc, Thailand’s largest oil refinery, is ready to spend US$30 million to acquire at least a 25% stake in an ethanol plant to secure its ethanol feedstock, says Chief Executive Officer (CFO) Surong Bulakul, the Bangkok Post reports. “We are now in talks with a number of operators on details such as share prices and conditions,” Bulakul said. The company is already operating its first ethanol plant through the joint venture Maesod Clean Energy Co. in which Thai Oil holds a 30% stake. The plant, located in Mae Sot in Tak province, has a daily output of 200,000 liters. (April 5, 2010)