IRPC signs ultra clean fuel deals
IRPC Plc, the petrochemical arm of PTT Group, is gaining momentum in its 13-billion-baht Ultra Clean Fuel project (UCF) to produce oil that meets the Euro 5 emission standard, with technical support from Chinese and South Korean companies.
One of a number of large investment projects in the Eastern Economic Corridor, UCF is designed to upgrade and make IRPC's oil refinery facilities in Rayong's Muang district more environmentally friendly.
Oil made under this European standard emits less pollutants.
Chawalit Tippawanich, president and chief executive of IRPC, said his company signed an agreement with Hyundai Engineering, a South Korean engineering and construction company, for engineering, procurement and construction of a diesel hydrotreating unit.
IRPC also signed contracts with Wison Engineering Co and Wison Energy (Thailand) Co, China's engineering service providers, for engineering, procurement and construction of a hydrogen manufacturing unit.
IRPC also signed an agreement with Foster Wheeler Co (Thailand) to be its project management consultant.
Mr Chawalit said these companies can guarantee smooth development of UCF, following their successful management of the Melaka Diesel Euro 5 project in Malaysia.
Wison specialises in operating over 200 large and medium-sized engineering projects in China and many countries worldwide while Foster Wheeler has a good deal of experience in industrial construction management.
UCF is part of IRPC's 5-year capital spending worth 30 billion baht.
Some 17 billion baht of the budget will be allocated for its speciality polymer development.
The upgraded oil refinery facilities are scheduled to operate from January 2024, with production capacity of 75,000 barrels per day.
The project falls in line with the Energy Ministry's plan to enforce the Euro 5 emission standard to reduce PM2.5 ultra-fine dust emitted from ageing oil-powered vehicles.