REPORTS PROGRESSES IN INVESTMENTS OF PROCEED FROM CAPITA
Bangchak Petroleum Plc. (BCP) reported progress on its investments of proceeds from a capital increase. BCP said uses of the Bt3,052-million proceeds from 104.4 million capital increased shares issued between June 8-10, 1994 have progressed as follow: 1. Project expanding the gasoline retail market BCP has kept speeding up the developing of its retail market in the first half of 1996 by increasing its franchised gas stations. The company has already invested Bt1,568 million in the expansion. 2. Project upgrading gasoline qualities for the environment The bid for the construction of a facility to separate sulfur from diesel gasoline will be decided upon in the first half of 1996, and the construction of the project will begin soon. The said project is for upgrading gasoline quality for the environment, of which is currently in the process of being designed and prepared on paper to prepare for bids. The company has, so far, invested Bt51 million in the project. The investment in the projects has totalled Bt1,619 million.