Investment Projects 1. Investment Project Progress The Ultra Clean Fuel Project (UCF): The objective of the UCF Project is to increase refinery plant’s efficiency and upgrade diesel quality to meet the Euro 5 (Euro V) standard in accordance with the Ministry of Energy’s policy determining that starting from January 1, 2024, diesel distribution must meet Euro V standards. Under the Euro 5 standard, the permitted sulfur level will decline to 10 parts per million (PPM) from 50 PPM under Euro 4. The project will increase the Company’s competitiveness through the rising demand for Low Sulfur Diesel in domestic market and ASEAN Economic Community (AEC). The UCF project is able to reinforce competitiveness of the Company involving Diesel as a main product; besides, the project is The investment projects are the investment plan which will encourage the Company’s business growth where the major investment contributes to strategic and value added projects. environmentally friendly and in line with the Company’s Eco Factory policy. Meanwhile, the Board of Directors approved the Final Investment Decision (FID) in 3Q21. Currently, the project is under a construction process and has been planned to commercial operate within 1Q24. Once the project is completed, the Company’s capacity will be able to convert entire high-sulfur Diesel to low-sulfur Diesel following Euro V standards. 2. Investment Plan The Board of Directors has approved the company’s fiveyear (Year 2022-2026) investment plan in an aggregate amount of Baht 41,350 million. The details are as follow: Investment Projects 2022 2023 2024 2025 2026 Total 1. Ultra Clean Fuel Project (UCF) 6,108 2,544 1,698 108 - 10,458 2. Strengthen Project 1,200 325 - - - 1,525 3. General and Maintenance Projects 4,415 2,796 2,284 2,310 3,101 14,906 4. Others 8,969 4,945 418 65 64 14,461 Total 20,692 10,610 4,400 2,483 3,165 41,350 (Unit: Million Baht) 182 IRPC PUBLIC COMPANY LIMITED 56-1 ONE REPORT 2021
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