Exxon Mobil keen on B330bn Sri Racha project

Exxon Mobil keen on B330bn Sri Racha project

"The ministry will consult with the Board of Investment for relevant incentives and privileges to offer the US company," says Mr Suriya. (Photo by Apichart Jinakul)

US energy company Exxon Mobil is committed to spending roughly 330 billion baht on its ethylene cracker and refinery expansion project in Sri Racha district, Chon Buri province.

The Texas-based parent has planned the expansion since March 2018.

Last Friday, it met with Industry Minister Suriya Jungrungreangkit to outline its investment plan at the US embassy in Bangkok, led by Peter Haymond, the charge d’affaires for the US mission.

Mr Suriya said Exxon Mobil has requested the government support this plan by seeking a plot of 1,000 rai, the same size as Exxon's existing refinery in Sri Racha, so the new ethylene cracker project will be connected with the petroleum pipeline of the refinery.

Exxon Mobil also asked the government to support this investment plan via other incentives and privileges.

"The ministry will consult with the Board of Investment for relevant incentives and privileges to offer the US company," said Mr Suriya.

"The government can support finding a land plot for this project because of the large investment scale which will benefit the country's petroleum and petrochemical sector." 

The government will invite the US embassy and Exxon Mobil to meet with state agencies again to conclude the  incentives.

Exxon Mobil has operated in Thailand for more than 120 years under the operation of SET-listed Esso (Thailand) Plc.

The refinery plant in Sri Racha has a maximum capacity of 174,000 barrels per day.


Do you like the content of this article?
COMMENT

Tesco reviewing Thailand, Malaysia businesses

Britain's biggest supermarket chain Tesco said on Sunday it had started a review of its businesses in Thailand and Malaysia, including looking at a possible sale.

06:49

What Thais talk about on Twitter

Thai Twitter users talk much more about locally produced television series and movies than they do about international titles.

06:41

Soil quality action group pursues farm chemical ban

The Thai Soil Partnership (TSP) has vowed to pursue a ban on herbicides to improve soil health and agricultural practices.

06:31