Company’s Business
Nature of Business
IRPC Public Company Limited is the first fully integrated petrochemical operator in Southeast Asia. Located within the company’s own industrial zone in Rayong, its production structure comprises petroleum and petrochemical complexes, complete with utilities and infrastructure supporting the operations, including a deepsea port, oil depots, and power plants.
Petroleum Business
The company operates an oil refinery with a total production capacity of 215,000 barrels per day (bpd). Ranked thirdlargest oil refinery in the country, IRPC produces a wide variety of petroleum products, consisting of liquefied petroleum gas (LPG), naphtha, gasoline, diesel and fuel oil. In addition, the company has a Lube Base Oil production plant with a capacity of 320,000 tons per year, and its asphalt plant has a total capacity of 600,000 tons per year as the country’s largest producer. It is also Thailand’s first asphalt plant to sell TIS-certified Bitumen Grade 40/50 in the domestic market. In addition, IRPC also produces Rubber Process Oil whose quality meets internationally recognized standards.
Diesel Quality Improvement Project
Thailand is committed to the enforcement of Euro 5-compliant diesel from 1 January 2024 to reduce air pollution and dust problems, including PM2.5. In response, IRPC has started adjusting its production processes by implementing the Ultra Clean Fuel Project (UCF). The objective is to increase refinery’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. In the future, the high-sulfur diesel market 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 face intense price competition going forward.
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 from Euro 4- to Euro 5-compliant diesel 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, which are mainly used as feedstocks for the company’s downstream petrochemical manufacturing, consisting of polyolefin-type plastic pellets (HDPE, PP) and styrenic-type pellets (ABS/SAN, PS, EPS) for sale to manufacturers of finished plastic products in Thailand and overseas under the POLIMAXX trademark.
In the mean time, the petrochemical business continues to forge ahead, adapting to the fast-changing world in terms of 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. These include Natural Compound Resin, Acetylene Black for Li-ion Battery (Pim-L, Pim-AL), Ultra High Molecular Weight Polyethylene (UHMWPE), PP Spunbond, and PP Meltblown, etc., along with the implementation of the Eco Solution management approach in a Closed-Loop plastic supply chain, incorporating efficient and sound recycling at all stages of production. Thus, eliminating manufacturing waste that would otherwise become a burden to the community and society at large.
Supporting Businesses
Power and Public Utilities
IRPC provides electricity, steam, infrastructure, utilities as well as wastewater treatment to industrial clients as well as other services to fully support their operations. Details of the company’s production, distribution and sale of power and utility services are as follows:
Electrical and Steam
IRPC operates a Combined Heat and Power Plant, which uses natural gas as fuel, and a 307-MW coal-fired power plant. Together with the generation capacity of the power plant of IRPC Clean Power Co., Ltd. (IRPC-CP), a joint venture whose investment plan was approved in 2021, and is expected to be completed by 2024, the total capacity will rise to approximately 430 MW. The power plant is controlled by the Power Dispatching Center to regulate the distribution of electricity and steam for maximum stability, complete with Loop Line transmission system to ensure uninterrupted power even in the event of contingency, such as maintenance outage.
IRPC also installed a 12.5 MW Floating Solar Farm in its 200-rai water reservoir. The solar farm enhances the power stability in IRPC Industrial Zone in Rayong, and is considered an eco-friendly innovation that not only increases business opportunities but also mitigates the impacts of global warming.
The company also supports and cooperates with customers in IRPC Industrial Zone in implementing various environmentally sound projects for pollution-free power generation.
Water System: 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, that contribute 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 for effluent standards, inspiring trust of surrounding communities and confidence in environmental sustainability.
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 outside clients serving different regions as follows:
IRPC Deep Sea Port, Eastern Thailand, in Mueang Rayong District, Rayong Province, 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)
The terminal is equipped with advanced equipment to handle liquids and gases efficiently and safely. The terminal is 1,623 meters long, consisting of six berths that accommodate vessels from 1,000 to 250,000 DWT.
Storage Tank Services
IRPC provides storage tanks for liquid petroleum and petrochemical products. The company’s teams of experienced specialists operate 299 tanks with a combined storage capacity of up to 2.9 million tons, using an efficient management system that meets international safety standards. These tanks accommodate IRPC’s petroleum-based products and serve external clients as well. Tank services are available in different regions: at Rayong Oil Depot, Phra Pradaeng Oil Depot, Ayutthaya Oil Depot, and Chumphon Oil Depot. Each depot has berths to accommodate sea freights, which make transportation and distribution efficient as well as help clients save costs and time.
Asset Management Business
IRPC manages vast expanses of high-potential land in Rayong and other provinces, totalling approximately 12,000 rai. The company has developed these plots of land into industrial estates and those that have potential for future development and expansion of manufacturing industries in connection with the government’s Eastern Economic Corridor (EEC) development project, along with other investment promotion policy. IRPC’s property management business is divided into three units:
Industrial Zone Project: IRPC Industrial Park, Mueang Rayong District, Rayong Province
The IRPC Industrial Zone offers a complete range of infrastructure and utility systems. This industrial park serves as a hub of industrial ecosystems and supply 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 not only encapsulates the very essence of new petroleumpetrochemical business model, but also paves the way for further expansion to accommodate promoted industries under the Eastern Economic Corridor (EEC) special development zone, such as Biotech Industry, Integrated Medical Industry (Health, Life & Science), and Advanced Material Industry.
Industrial Estate Project: WHA Industrial Estate Rayong (WHAIER), Ban Khai District, Rayong Province
This industrial estate is a joint venture between IRPC Public Company Limited and WHA ID Industrial Development Public Company Limited (WHA ID), with shareholding proportion of 40/60 per cent, respectively. The joint venture aims to accommodate investment in the Eastern Economic Corridor (EEC). Since the third quarter of 2022, basic infrastructure development has been underway, and marketing plans will be launched the following year.
Other High-Potential Land
IRPC owns a large plot of land in Chana District, Songkhla Province, with an area of approximately 2,300 rai that can be developed into an industrial support base and commercial development project alongside a deep seaport project and a renewable energy power project. The company also owns other sizeable plots in Rayong and smaller parcels of land in Chiang Mai, and Lamphun.
