IRPC Plc mulls US$2.1 bln investment for naphtha cracker and residue refinery

01-Feb-08

In a move that will create higher margins for its products, IRPC Plc. (formerly known as Thai Petrochemical Industry) is considering a new investment of US$2.1 bln for a naphtha cracker and residue refinery. The company's end goal is to generate new by-products and significant future profits. The US$2.1 bln project encompasses a US$1.5 bln for a naphtha cracker and $600 million for a residue refinery plant. Upon completion, the IRPC refinery will produce one mln tpa of naphtha and process it on site. The company is now conducting a study on production configuration and design. It will call construction bids by the middle of this year. The new two projects are estimated to be complete by mid-year and would be ready to start upon completion of current oil refinery expansion, which would generate more residue to meet economies of scale of 300,000 tpa from 100,000 tpa currently.