Siam Gas and Petrochemicals Public is expected to complete takeover of Caltex Shantou’s LPG storage in August at the earliest, C1 learned from a local informed source.
The company will engage in trades of both foreign and homemade LPG by then, according to the source.
The long-idled 200,000-cu-m underground LPG storage is still under maintenance and related files are pending approval, the source revealed.
It is rumored earlier the takeover would finish at the end of June.
Caltex Shantou sold 200,000-cu-m LPG storage to Siam Gas and Petrochemicals Public in mid-September 2009, C1 reported previously.
Caltex Shantou, founded in August 2000, is the largest LPG project invested by Caltex Group in China. The company used to be a major LPG trader in East Guangdong Province, but it quitted China market in May 2008.
Siam Gas and Petrochemicals Public is an LPG company founded on Jan 17, 2001 in Thailand.
