SET Announcements

Bangchak Petroleum Plc. (BCP) reported on progress in utilising Bt3,052-million fund mobilised from offering of 104.4 million new shares on June 8 - 10, 1994 as follows: 1. Retail outlet expansion project: During the first half of 1997, BCP kept speeding development of its retail market by setting up gas stations under the company's trade mark. The company's investment in this part has so far reached Bt2,866 million. 2. Environmental project: During the first half of 1997, the installation of the unit to separate sulphur from diesel petrol, which is a part of oil quality improvement project for environment, has already been completed and is now under a test run. As for the project to improve oil quality for environmental benefits, the construction is still under way. The company has invested a total of Bt195 million in this project so far. The investments in the project totalled to Bt3,061 million to date, finishing the fund raised in the capital increase.