Company’s Business

Nature of Business

IRPC Public Company Limited is the first fully integrated petrochemical operator in Southeast Asia. The company owns a refinery and petrochemical complexes located within its own industrial zone in Rayong, complete with infrastructure and basic utilities supporting the operations, including a deep-sea port, an oil depot, and a power plant.

Petroleum Business

IRPC’s refinery has a total capacity of 215,000 barrels per day (bpd), the 3rd largest refinery in Thailand in terms of production capacity. IRPC manufactures a range of petroleum products, namely liquefied petroleum gas (LPG), naphtha, gasoline, diesel, and fuel oil. Additionally, IRPC’s Lube Base Oil Group I plant has a total capacity of 320,000 tons per year, and the associated asphalt plant has a total capacity of 600,000 tons per year, the highest domestic capacities. It is Thailand’s first asphalt plant to sell TIScertified 40/50 asphalt in the domestic market. IRPC is also a producer of rubber process oil, whose quality satisfy internationally recognized standards.

Diesel Quality Improvement Project

The government has set the deadline for the enforcement of Euro 5-compliant diesel from January 1, 2024 to reduce air pollution and dust problems, including PM 2.5. In response, IRPC has started adjusting in its production processes by implementing the Ultra Clean Fuel Project (UCF). The objective is to increase refinery plant’s efficiency and upgrade diesel quality. The UCF project enhances the company’s competitiveness as its refinery, which has until recently produced large quantities of high-sulfur diesel for export to some Asian markets, will switch completely to Euro 5 diesel. The market for high-sulfur diesel is expected to shrink and be confined to operators of oceangoing vessels and fishing trawlers, which have limited demand. Furthermore, these customers may opt for cheaper low-sulfur fuel oil instead. As a result, the company may have to compete on price that hurts profitability.

The project will enable IRPC to meet the increase in demand for new standard diesel in the domestic market, and to export to countries that will be switching to Euro 5-compliant diesel from Euro 4 in the foreseeable future. This will enable the company to add product value and increase revenue.

Petrochemical Business

IRPC is a producer of upstream petrochemical products, namely olefins and aromatics. These upstream products are feedstocks for IRPC’s downstream petrochemical plants producing plastic pellets in polyolefins (HDPE and PP), and Styrenics (ABS/ SAN, PS, and EPS). These downstream products are sold to manufacturers of finished plastic products in Thailand and overseas under the brand POLIMAXX.

In addition, the petrochemical business also focuses on moving forward, adapting to the fast-changing world in terms of the environmental standards and evolving production technologies. IRPC’s research and development efforts have yielded a crop of new and innovative products to increase its competitiveness. Among these new products are: Recycled Compound Resin, Acetylene Black for Li-ion batteries (Pim-L, Pim-AL), PP Spunbond and PP Meltblown, etc. IRPC also introduced Eco Solution management approach in a closed-loop plastic production chain, incorporating recycling in the production process.

Supporting Businesses

Power and Public Utilities

IRPC provides electricity, steam, infrastructure, public utilities as well as wastewater treatment and related services to industrial clients in support of their operations. Details of these services are as follows:

Electrical and Steam

IRPC operates a Combined Heat and Power system, which uses natural gas as fuel, and a 307 MW coal-fired power plant. The company’s Power Dispatching Center regulates the distribution of electricity and steam for maximum stability, complete with Loop Line system to ensure uninterrupted power in the event of contingency, such as maintenance.

IRPC also installed a 12.5 MW floating solar farm in a 200-rai reservoir. The solar farm contributes to the power stability IRPC PUBLIC COMPANY LIMITED Structure and Business Operations of IRPC 69 in IRPC Industrial Zone and is considered an eco-friendly innovation that not only increases business opportunities but is also mitigate the impacts of global warming.

IRPC also supports and cooperates with customers in IRPC industrial zone in implementing various eco-friendly projects to produce clean energy, among other things.

Water Systems: Filtered Water, Demineralized Water, Cooling Water, Raw Water, Fire-fighting Water

The Company receives raw water under industrial quota from the Royal Irrigation Department and operates two water filtration plants located in Ban Khai District, and in IRPC Industrial Zone, contributing to stability and operational continuity.

Pneumatics: Nitrogen, Instrument Air, Plant Air

IRPC operates its own industrial pneumatic system as well as works in direct partnership with leading manufacturers of industrial pneumatic systems

Wastewater Treatment

IRPC uses Membrane Bioreactor Plus Activated Carbon Adsorption (MBR Plus AC) to treat wastewater. This bioprocess is highly efficient and operationally stable. The treated water consistently passes inspection, inspiring the trust and confidence of the surrounding communities.

Port and Tank Services

IRPC Port Services

IRPC provides port services: to domestic and international clients for vessels to berth at its terminals for loading and unloading, with port services available to outsides in different regions as follows:

IRPC Deep Sea Port, Eastern Thailand, in Muang District, Rayong, consisting of:

Bulk & Container Terminal (BCT)

The terminal is 900 meters long and 44 meters wide. It comprises six berths, which accommodate vessels of various sizes, ranging from 800 to 150,000 DWT, with a maximum draft of 13.5 meters.

Liquid & Chemical Terminal (LCT)

This terminal is equipped with state-of-the-art equipment to handle liquids and gases efficiently and safely. The terminal is 1,623 meters long, comprising six berths that can accommodate vessels of different sizes, ranging from 1,000 to 250,000 DWT.

Storage Tank Services

IRPC provides storage tanks for petroleum products and liquid petrochemical products. IRPC’s teams of experienced specialists operate 299 tanks with a combined storage capacity of 2.9 million tons, using an efficient management system that meets international safety standards. These tanks accommodate IPRC’s petroleum-based products and serve external clients as well. Tank services are available at IRPC oil depots in different regions: Rayong (Eastern Thailand), Phra Pradaeng (Bangkok), Ayutthaya (Central Thailand), and Chumphon (Southern Thailand). Each depot has a port or wharf to accommodate sea freights, which makes transportation and distribution efficient as well as helps clients save costs and time.

Asset Management Business

IRPC manages approximately 12,000 rai of high-potential land in Rayong and other provinces. The company has developed these plots of land into industrial estates and those that have potential for future development and expansion, especially in connection with the government’s Eastern Economic Corridor (EEC) initiative and other investment promotion policy. These asset management businesses cover development plan and other projects under the government’s investment promotion policies. IRPC’s asset management business is divided into three units:

IRPC Industrial Park, Mueang District, Rayong:

The IRPC Industrial Park offers a complete range of infrastructure and public utilities. This industrial park serves as a hub of industrial ecosystems and production chain connecting petroleum refinery and its upstream petroleum materials or products to the integrated petrochemical complexes and its direct downstream industries and products. The management approach encapsulates the very essence of new petroleum-petrochemical business model, but also pave the way for further expansion into new territories under the Eastern Economic Corridor (EEC), such as the integrated medical industry, modern automotive industry groups, as well as agricultural and biotechnology industries, to tap into high-tech industries.

Industrial Estate: WHA Industrial Estate Rayong (WHAIER), Ban Khai District, Rayong:

This industrial estate is a joint venture between IRPC and WHA Industrial Development Public Company Limited (WHAID) with a shareholding ratio of 40/60, respectively. The joint venture aims to accommodate industrial clients that seek to take advantage of investment opportunities under the EEC development plan.

Other Assets:

IRPC owns a large plot of land of about 2,300 rai in Chana District, Songkhla, which can be developed into an industrial support base and commercial development project alongside a deep seaport project and a power plant project of the government. IRPC also owns other smaller plots of land in Rayong, Chiang Mai, and Lamphun.

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