Thai PTT Chemical plans plant shutdown in late Q3

BANGKOK May 19 (Reuters) - PTT Chemical PCL PTTC.BK (PTTCH), Thailand's largest olefins maker, said on Tuesday it planned to shut down its olefins unit for 35 days for maintainance late in the third quarter.

PTTCH, a flagship in the olefins petrochemical business of energy giant PTT PTT.BK, also expected to sell bonds worth 4.6 billion baht ($134 million) in that quarter to finance expansion, President Veerasak Kositpaisal told reporters.

"We plan a maintainance shutdown for olefins I1 for 35 days and also oleflex for another 45 days, both late in the third quarter," Veerasak said, referring to the plant's two units. PTTCH's senior executive vice president for finance and accounting, Panada Kanokwat, said the company expected a maturity of 7-10 years for the bonds. ($1 = 34.39 Baht) (Reporting by Pisit Changplayngam; Writing by Ploy Chitsomboon; Editing by Alan Raybould)