PTT Oil and Retail Business Public Company Limited (SET: OR) announced on Wednesday that the Company, through its subsidiary, and Boonrawd Trading Co., Ltd. have signed contracts for a new joint venture to manufacture and distribute ready-to-drink products.
Modulus Venture Company Limited (Modulus), a wholly-owned subsidiary of OR, received approval on March 29 from the Company’s Management Committee (ORMC) to establish a new joint venture in which Modulus will hold a 50 percent stake and Boonrawd Trading Co., Ltd. (Boonrawd) will hold a 50 percent stake in all common shares issued by the new joint venture.
Modulus will invest in the amount of no more than THB 210 million. The new joint venture is expected to complete its registration by the third quarter of 2022.
