IRPC Public Company Limited (IRPC) announced that on July 2, 2021, the Board of Directors approved the investment in the Refinery Efficiency and Diesel Quality Improvement Project for EURO V Standards Compliance (Ultra Clean Fuel Project: UCF).
Such project implementation is in accordance with the Ministry of Energy’s policy determining that starting from January 1, 2024, diesel distribution must meet Euro V standards in order to reduce pollution and PM 2.5 issues. Besides, the project implementation complies with the Company’s strategy to enhance long-term competitive advantages.
Meanwhile, the Environmental Impact Assessment (EIA) has been granted by the Office of Natural Resources and Environmental Policy and Planning (ONEP). The investment cost is approximately 13,300 million baht and has been planned to commercially operate within January 2024. 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.