Thai Oil ear­marks Bt8.9 bn for ca­pac­ity ex­pan­sion

The Nation - - BUSINESS -

Re­fin­ery com­pany Thai Oil has set aside an in­vest­ment bud­get of Bt8.9 bil­lion un­til 2019 with a view to ex­pand­ing its pro­duc­tion ca­pac­ity to 400,000 bar­rels a day.

Atikom Terb­siri, chief ex­ec­u­tive of­fi­cer and pres­i­dent of the listed com­pany, said yes­ter­day that the money would be spent on build­ing added value for its clean fuel project, which would lift pro­duc­tion ca­pac­ity from the cur­rent level of 275,000 bar­rels a day. Thai Oil also plans to ren­o­vate its port to serve the largest cargo ships and man­age its lo­gis­tics port fa­cil­i­ties in or­der to achieve its ex­pan­sion goal.

The ren­o­vated port de­vel­op­ment will be com­pleted in 2019, Atikom said, adding that the over­all in­vest­ment would in­clude the ad­di­tion of five oil tanks, en­abling the tar­get ca­pac­ity of 400,000 bar­rels a day to be achieved.

Mean­while, the com­pany is pur­su­ing an op­por­tu­nity to form a joint ven­ture with Global Green Chem­i­cal – a sub­sidiary of PTT Global Chem­i­cal – to pro­duce ethanol prod­ucts, the CEO said. Ne­go­ti­a­tions about such a joint op­er­a­tion are on­go­ing.

Newspapers in English

Newspapers from Thailand

© PressReader. All rights reserved.