Bangkok, IRPC Public Company Limited or IRPC plans to expand its core business lines, including oil, petrochemicals, ports, and real estate. With innovations and special products that have high growth potential. Expanding new investment portfolio, targeting hospital and accommodation businesses, Health and Wellness, Paint and Coating, increasing the proportion of clean energy. with strong internal measures and reduce greenhouse gas emissions to net zero (Net Zero) by 2060.
Mr. Krit Imsaeng, Chief Executive Officer and President of IRPC Public Company Limited or IRPC, revealed that in 2024, experts still estimate that The world economy is still at risk. Affecting exports and the Thai economy Because it still relies on exports for up to 60 percent, which inevitably affects the company's business. So prepare a strategy. Create added value Aggressive expansion of new investment portfolios Ready to move forward with the plan to reduce greenhouse gas emissions to net zero (Net Zero) in 2060.
“This year the Thai economy will improve from tourism and the real estate sector. However, due to situations and factors both at home and abroad that are challenging and constantly changing, the company has planned strategies to be consistent and appropriate to the situation in each period. By increasing efficiency, enhancing production capability and competition. that adheres to the principles of building strength and building on the core businesses of petroleum, petrochemicals, ports and real estate Expand investment into new business groups With internal control measures and a strong financial position,” Mr. Krit said.
For building strength from the core business (Core Uplift) Petroleum business (Domestic first) 1. Expand the logistics system for transporting oil through pipelines. By expanding a new oil depot in Bang Pa-in District, Phra Nakhon Si Ayutthaya Province. With a 99 kilometer long pipeline transportation system in collaboration with Bangkok Fuel Transportation Company. Pipeline and Logistics Co., Ltd. or BFPL to support the demand for energy in the transportation sector in the central and northern regions. Help operations and efficient product distribution Save costs and transportation time.
2. Project to improve refinery efficiency and diesel quality Euro 5 (Ultra Clean Fuel Project or UCF) is ready to produce Euro 5 standard fuel or low sulfur diesel fuel. Can be commercially produced by 1 January 2024 according to government policy. Help create additional value and income for the company. It will start selling from December 25, 2023, which is currently waiting for clarity from the Department of Energy Business on how much the amount of improvement value will be approved because each refinery has been improved to meet government standards.
The petrochemical business (Specialty Boost) raises the level of competitiveness through innovation and creates added value with special products “POLIMAXX” including 1. PP Melt Blown plastic pellets for medical equipment products. and quality hygiene products such as face masks, N95 masks, gowns, PPE sets, diapers for children and adults, as well as various filters. 2. PPR plastic pellets (PPR: PP random copolymer pipe) have properties that are strong and resistant to force. scratch and pressure More resistant to chemicals than general water pipes. High security Produced from phthalate-free technology, suitable for producing hot and cold water pipes in households and in industries.
3. HDPE 100-RC plastic pellets for producing large industrial pipes. Has very good impact resistance properties. It has a lifespan of more than 100 years, reducing costs and construction time.
For the port and real estate business (Maximize Infrastructure and Asset Utilization), the company is ready to provide deep sea port services for loading and unloading goods both within the country and abroad. Supports transportation in each region, including container and general cargo ports (Bulk and Container Terminal), petrochemical ports and liquid petroleum terminals (Liquid and Chemical Terminal). In addition, the company has developed the area into industrial land and supports the expansion of the economic sector. Industry supports the Eastern Economic Corridor (EEC) project, including projects according to government and private sector investment promotion policies, divided into 3 main groups: the IRPC Industrial Zone Project, Rayong Province, the Industrial Estate Project Blueha Industrial Estate Rayong (WHAIER), Ban Khai District, Rayong Province and land in other areas. There is potential in the area of Chana District, Songkhla Province.
Mr. Krit said that in expanding the new investment portfolio (Step up and beyond), the company has set a strategy to invest in hospitals and health accommodation businesses (Health and Wellness). ) together with Bangpakok Hospital and Piyawet Hospital Study investing in hospital and health care businesses. in the potential areas of the company To improve the quality of life and health of people in Rayong Province and nearby provinces.
Paint and Coating Business, together with Beyer Company Limited, developed the country's first world-standard paint and coating product with the ingredient Polytetrafluoroethylene (PTFE), which has special properties to withstand harsh weather conditions. Helps extend the life of steel structures by three times. To be used to coat steel structures in oil refineries. airport petrochemical plant ports and bridges, etc.
In addition, the company has developed the fertilizer and plant supplement product "White Bear Fertilizer" under the trademark "REINFOXX" adding another 4 formulas so that Thai farmers can access quality products. It is safe for users. To productivity and the environment By expanding the domestic market Increase your ability to compete To enable Thai farmers to grow sustainably
“The company continues to pursue a cautious business policy. Increase management efficiency and reduce energy costs from the uncertainty of the economic situation. Therefore, it is necessary that the company Ready to review investments and create worthwhile opportunities Focus on businesses with high growth At the same time maintaining discipline and a strong financial position. There is sufficient cash flow. And start a new business plan for employees and outsiders to receive the company's products and plan for distribution. It might be a startup. or SME The company will charge a profit of approximately 5% from production costs,” Mr. Krit said.
The company increased the proportion of clean energy, expanded the production capacity of the Floating Solar project by another 8.5 megawatts, and integrated sustainability into the business. Aiming to reduce greenhouse gas emissions by 20% by 2030, achieve carbon neutrality by 2050, and reduce greenhouse gas emissions to net zero by 2060, faster than the country's target of 2065.
Source: Thai News Agency