Corporate Information

Company's Background

Milestones

  • 2016

    January
    • Entered into a “Memorandum of Cooperation: The Public-Private Collaboration in Enhancing Professional Quality of Vocational Education (Competitive Workforce)”, of the Public-Private Working Group in enhancing vocational education quality
    February
    • Thailand Top Company Award 2016 (Outstanding Award), presented by the Business+ magazine
    • Golden Peacock Global Award for Corporate Social Responsibilities 2015, presented by the Institute of Directors (IOD), India
    March
    • Signed a long-term contract worth over Baht 120 million to expand slack wax markets to the US and Europe
    • Thailand Quality Class (TQC) Award 2015, in recognition of IRPC’s PP plant, which met the quality class criteria, presented by the Thailand Productivity Institute, Ministry of Industry
    • TPM Excellence Award 2015, Category A, presented by Japan Institute of Plant Maintenance (JIPM). The awards were given to organizations worldwide for their successes in implementing the Total Productive Maintenance (TPM) system
    April
    • Participated in the launch of the EVEREST “Together We Can” event to announce project goals and inspire employees to be part of the driving force to their full capacity and in the same direction to achieve the goal of becoming the “Leading Integrated Petrochemical Complex in Asia by 2020”
    May
    • Thailand ICT Excellence Award 2016 (Core Process Improvement Project) presented to Athena-Achieving Pricing Excellence Project by the Thailand Management Association (TMA) in collaboration with the National Electronics and Computer Technology Center (NECTEC), Software Park Thailand, and the College of Innovation, Thammasat University (CITU)
    June
    • Entered into an Auctioneer Agreement with Hilco Global Asia for the management of non-maximized (unused) machinery and equipment in an environmentally friendly manner and in compliance with laws
    • With 15 other leading organizations as co-founders of Global Compact Network Thailand (GCNT), attended a joint meeting to establish the Global Compact Network Thailand Association, designed to drive Thailand’s business sector to appreciate the importance of corporate sustainability under the ten principles of the UN Global Compact in human rights, labor, environment, and national anti-corruption, and act as a bridge with the United Nations to ensure compliance with the regulations of the United Nations
    • Individual Award - Asia’s Best CEO (Investor Relations) and Corporate Award - Best Investor Relations Company for three consecutive years, presented by the Corporate Governance Asia magazine.
    • Asia Responsible Entrepreneurship Award (AREA) 2016 (Social Empowerment) for IRPC’s Lam Sai Yong Model: Water Management Project (“Sustainable Drought-Solving”), presented by the Enterprise Asia magazine.
    • Green Meeting Certificate in recognition of organizing "Green Meeting” to reduce the use of energy and resources for the 4th consultative year. Carbon Reduction Label certificate for PP: Polypropylene and PS: Polystyrene from Thailand Business Council for Sustainable Development (TBCSD)
    • Outstanding Workplace for Safety, Occupational Health, and Work Environment Award 2016, National Level, presented by the Department of Labour Protection and Welfare Outstanding Workplace for Safety, Occupational Health, and Work Environment Award 2016, Diamond Level, for its Chumphon Oil Depot for three consecutive years Outstanding Workplace for Safety, Occupational Health, and Work Environment Award 2016, Gold Level, for Ayutthaya Oil Depot for four consecutive years Outstanding Workplace for Safety, Occupational Health, and Work Environment Award 2016, Gold Level, for Phra Pradaeng and Mae Klong Oil Depots for three consecutive years
    July
    • July 16 marked the Commercial Operation Date (COD) of the Upstream Project for Hygiene and Value Added Products (UHV)
    • IRPC in collaboration with the Prostheses Foundation under the Patronage of HRH the Princess Mother and Rayong Province organized a mobile unit project for prosthetic legs for over 220 amputees in Rayong and its vicinity to honor the 70th Anniversary Celebration of HM the late King’s Accession to the Throne, and HM Queen Sirikit's 7th Cycle Birthday Anniversary on August 12
    • The Best CEO at the “IAA Awardsfor Listed Companies 2015/2016”, Resources Industry, by the Investment Analysts Association (IAA)
    • Two awards from The Prime Minister’s Industry Awards 2016 for the Condensate Residue Plant (ADU1 and NTU) for productivity improvement and the BTX plant for energy management
    August
    • All businesses of Thai ABS Co., Ltd., 99.99%-owned by IRPC, were transferred to IRPC for efficient internal management restructuring as well as operating cost reduction
    • A Plaque of Honor for a pilot workplace under the “best-practice guideline project for green supply chains of target export industries”
    • Ayutthaya and Phra Pradaeng Oil Depots won Plaques of Honor for Zero Occupational Accidents Campaign, Bronze Level, for four consecutive years, presented by the Department of Labour Protection and Welfare
    September
    • Retained the membership of DJSI: Emerging Markets, Oil and Gas Refining & Marketing Group, for three consecutive years
    • Joined the Public-Private Collaboration Working Group in enhancing the professional quality of vocational education
    • IRPC and IRPC Technological College, Rayong, participated in the Anti-Corruption Day 2016, and reiterated IRPC’s business conduct with professionalism, transparency, due regard for good governance, corporate governance, and social responsibility
    • Received a Certificate of Carbon Footprint for Organization: CFO from the Thailand Greenhouse Gas Management Organization (Public Organization)
    • Entered into a Krungsri e-Payment Service Agreement for the purchase of petroleum products via the IRON system by which its customers can make their payment
    October
    • IRPC’s 11 plants won “ECO Factory” awards from the Industrial Environment Institute, The Federation of Thai Industries
    • Golden Peacock Global Award for Excellence in Corporate Governance 2016, from the Institute of Directors (IOD), India
    December
    • Entered into a memorandum of cooperation in “Advanced Vocational Education in Petrochemical and Energy (iPEC)” with IRPC Technological College and PTT Group, namely PTT Plc, Thai Oil Plc, IRPC Plc, PTTGC Plc and Global Power Synergy Plc to upgrade IRPC Technological College’s capability
    • EIT-CSR Award 2016, Plaque of Excellence, in IRPC’s campaign to promote CSR activities among state agencies, presented by The Engineering Institute of Thailand under HM the late King’s Patronage (EIT)
    • Entered into a work contract for Spent Caustic Treatment Unit for RDCC Plant with Plus Exploration Co., Ltd.
    • Outstanding Sustainability Report Award 2016, presented by the Stock Exchange of Thailand (SET)
    • Entered into a Share Purchase Agreement and Shareholders’ Agreement with PCC Rokita SA (PCCR) to divest 25% of its total paid-up capital worth Baht 80 million in IRPC Polyol Co., Ltd., a 99.99%-owned unit of IRPC, to PCC Rokita SA, Poland
    • Signed a memorandum of cooperation in the “Excellent Model School” program, a Public-Private Collaboration in enhancing vocational education in Thailand among 46 schools under the Office of the Vocational Education Commission, Ministry of Education, and 14 leading private organizations
    • Honorable Mention in NACC Integrity Awards 2016 in recognition of IRPC’s integrity, ethics, and honesty, from the Office of the National Anti-Corruption Commission
    • Entered into a one-year Inter-Company Borrowing & Lending Agreement with PTT Plc to efficiently manage financial liquidity
    • SET Sustainability Awards 2016 from the Stock Exchange of Thailand.
    • Thailand Sustainability Investment (THSI) from the Stock Exchange of Thailand as IRPC is one of the companies that is listed as sustainable stock for the second consecutive year.
    • Best Investor Relation Awards from the Stock Exchange of Thailand.
  • 2015

    Selected as the member of DJSI’s Emerging Markets in the Oil & Gas industry for 2 consecutive years. An international proof of IRPC’s sustainable development with good economic, social, and environmental balance, which will drive the company forward with stability while making the challenging short-term EVEREST Project achievable

    Quarter 1
    • Signing joint-venture Agreement with PCC Rockita SA, Poland
      to align with developing value added product strategy with a focus on Asia-Pacific markets.
    • Printing and promoting Corporate Governance Handbook (revised 2).
    • IRPC joined Blue Light Industrial Co., Ltd.,
      in launching the world’s first luggage made with green ABS under the CAGGIONI brand.
    • Adopting Children’s Rights and Business Principless: CRBP
    Quarter 2
    • Starting Oil Refinery Improvement Project
      to enhance efficiency, reduce cost and save environment.
    • With Blue Light Industrial Product Co., Ltd.
      Launched Wood Plastic Composite under the “Trix Track” brand.
    • Launching “IRPC Cubic Academy” Project.
    Quarter 3
    • Selected as the member of DJSI’s Emerging Markets
      in the Oil & Gas industry for 2 consecutive years.
    • Princess Maha Chakri Chakri Sirindorn
      inaugurated Kamnoetvidya Academy and Vidyasirimedhi Institute, which IRPC and PTT Group had founded aiming to be a world-class institutes in science.
    Quarter 4
    • IRPC announced i SPIRIT
      – a new set of values to take it toward efficient operations with corporate governance.
    • Launching the “EVEREST” project
      designed to steer IRPC toward excellence.
    • Construction ended for the Upstream Project for Hygiene and Value Added Product (UHV)
      and under testing and pre-commissioning.
    • Joined Fine Arts Department to restore the historical site,
      Wat Krua Ta Phet, locates in the vicinity of IRPC’s Ayutthaya depot.
  • 2014

    January
    • Her Royal Highness Princess Sirindhorn bestowed an Honor emblem to IRPC for Thai Heritage Conservative Day to IRPC Public Co.,Ltd. in occasion of IRPC was considered to be a Nation Cultural Operation supporter of the year 2013
    • The company has increased distribution channels for Styrene by trucks which increased more profit per unit and boosted shipping quantity to 1,000 tons monthly.
    • IRPC participate in The World Economic Forum (WEF), a Swiss nonprofit foundation, based in Cologny, Geneva.
    February
    • Started the expansion of Wharf3 port in Capacity Improvement Project to extend and facilitate better transporting efficiency and to support the Upstream Project for Hygiene and Value Added Products (UHV) and other projects in the future.
    March
    • Polypropylene Plant, IRPC PLC., receive 2013 Thailand Quality Class (TQC) award from Thailand Quality Award National Committee of Thailand Productivity Institute.
    April
    • The Thermoplastics Factory (EPS) has brought the Averis Technology into the production process to enhance production and to reduce chemical utility. We can produce better quality and more stable products.
    • The company has joined the Project Call to Action: Anti-Corruption and the Global Development Agenda established by UN Global Compact (UNGC), aiming to collaborate and voluntarily create human well beings and continue so forth.
    • The Company was accredited as a member in private sector collective action Coalition Against Corruption (CAC) from Anti-Corruption Organization Thailand on April 4, 2014 to certify of having its Anti-Corruption policies and implementations as required by CAC.
    May
    • Trade agreement signed with Shell International Eastern Trading Company (SIETCO) to buy standard lubricant oil.
    • The Company signed an agreement to expand their cooperation in TDAE sales with Ban Hon Specialty Oil Company limited which has become its business partner since 2005. They will together develop the non-toxic oil market in Asia.
    June
    • Trade agreement signed with Horizon Petroleum Company to buy their asphalts. It is an annual renewal agreement of special product of IRPC.
    • Trade agreement signed with Vitoria International Petroleum Company, whose main market is in China, to buy Rubber Process Oil.
    • Joined with PTT in signing for a collaboration project to reduce Greenhouse gases voluntarily according to Thailand standard (T-VER), it is to exchange innovation, knowledge management of carbon credit measurement and verification from Thailand Greenhouse Gas Management Organization (TGO) and draw the guideline for a Sustainable Reforest Project.
    • IRPC gained more market share in China by delivering 40 tons of TDAE products to a Tire factory in China by ISO tank for PTT (Public) Company and created new collaboration business within PTT enterprises.
    July
    • Issued new unsubordinated and unsecured bonds with indicated name in the amount of 15 billion Baht, money will be used to pay due bonds and the rest will be used as current assets.
    • Opened a NANO Chemical Factory in the IRPC Industrial Zone and its first product is an antibacterial chemical substance which can kill 99% bacteria according to Japan standard (JIS Z 2801)
    • Expand the production ability of the Lubricant Oil Factory in Phra-Pradeang, Samutprakarn province (Lube Blending Business Improvement) by increasing the lubricant oil 72 million liters per year in order to support the increasing demand in domestic and for AEC.
    September
    • The company and Leophairatana Group had signed to seize all lawsuits. So the company can restructure and manage all assets more efficiently and to administrate the business more sustainably.
    • Signed a trade agreement with Lube Base Oil Company and CPC Corporation Taiwan.
    • Production process has been improvised according to The Technical Services Agreement (TSA) by Licensor Novolen in Polypropylene plant which decreased cost of production and will introduce new and better products into the market such as special grade for diaper product.
    October
    • In collaboration with Picnic Industrial Limited, the company has launched a new Thermoplastics product with Natural Color Compound for the first time in Thailand. It will be used for food packaging, safe, heat proof, and eco-friendly and can be used with other Plastics product in the future.
    • The Company is evaluated and certified at the 4th level of Anti-corruption Progress Indicator by The Securities and Exchange Commission- SEC and Thai Pat Organization.
    November
    • The company was elected to become a member of DJSI, which is the most accepted sustainability indices in the world, in the category of Emerging Market in 2014 of Oil and Gas Industry.
    • Moreover, we are awarded Bronze Class by RobecoSAM Yearbook 2015 which is the runner up award from all the Industry Leader.
    • IRPC Public Company Limited received the Industry Mover distinction in the Oil and Gas Industry from RobecoSAM.
    • Improved production process in Polyethylene factory from PE natural to PE-Pipe grade and increased it to 45,416 tons/year in 2014 and 120,000 ton/year in 2015.
    December
    • Established the NOx Reduction Project to reduce releasing of Nitrogen dioxide gas by changing complete 6 burners of which we had already finished 3 installations in Combined Heat & Power Plant (CHP I).
    • Signed for an Inter-Company Borrowing and Lending loan with PTT (Public) Ltd. for 1 year to maintain the most efficient liquidity.
    • Signed for a Memorandum of Understanding with the Department of Industrial Works of Thailand and Department of Industrial Works in Kita, Kyoshu, Japan, it is to develop Eco-Industry and will use IRPC industrial zone as the model.
  • 2012

    January
    • Acquired a long-term syndicated loan for its investment projects and business operations from local financial institutions totaling Baht 3.7 billion with a drawdown period up to year-end 2012 and a maturity date in 2020–regarded as flexible and in line with IRPC’s business structure and capital needs
    • Acquired a long-term dollar loan for its investment projects from foreign financial institutions totaling USD 100 million, with a maturity date in 2020. Also, acquired a revolving facility in support of business operations by securing a USD-75 million loan from foreign financial institutions with a drawdown period to the end of 2018–also regarded as flexible and in line with IRPC’s business structure.
    February
    • Installed the Power Management System (PMS) to centralize total power supply system management for maximum stability and reliability.
    • Successfully implemented the Gasoline Hydrogenation Unit (GHU), designed to produce Euro IV gasoline up to the Ministry of Energy’s standards and requirements.
    March
    • IRPC’s project to develop the service business through I’M ACE seconded engineers to Samsung on assignments in the United Arab Emirates.
    April
    • Issued an organizational health survey for employees’ participation in the comprehensive assessment and improvement of organizational health, leading to sustainable organizational growth
    May
    • Collaborated with world-renowned Oxford University on R&D on high-performance polymers, striving for high-quality petrochemicals and polymers for the market.
    • Delivered the first lot of marine pipe-grade compound PE to Thai Asia PE Pipe Co., Ltd., Thailand’s major pipe producer, for salt-water pipelaying in Amphoe Khao Saming, Trat province.
    • With the Department of Industrial Works, signed a memorandum of cooperation on EIZ development in IRPC’s industrial estate in Thailand.
    • Joined an Equity Participation Signing Ceremony for investment in Ube Chemicals (Asia) Plc for 25% of the paid-up capital, worth some 5.3 billion Baht
    June
    • With Thai Airways International Plc, signed an agreement on the investigation of carbon credit purchase from the Combined Heat and Power plant
    July
    • Completed was the Lube Group 1 Specialty Products Focus Project, featuring environmentally friendly TDAE, RAE, and the Bright Stock lubricant. The commercial production start-up met market needs in the auto-tyre manufacturing business.
    • Signed an agreement with GE on the development of the maintenance capability of gas turbines in CHP and development of inhibitors in the EBSM plant
    August
    • Offered Baht 10 billion in domestic debentures to institutional and investors (public offering) in two tranches: three-year maturity and six-year maturity of Baht 5 billion each. This move increased liquidity to accommodate future projects.
    September
    • Launched “POLIMAXX BANBAXX”, a special polymer with an engrained bacterial inhibitor that had passed the JIS Z 2801 standard test of Japanese Industrial Standards.
    • Developed an e-Nose apparatus to analyze odor pollution of IRPC’s industrial estate.
    • With PTT, signed an MOU to investigate the potential of jatropha as a raw material for biofuels in Rayong.
    • Completed was the construction of the Propylene Project (PRP), which started up with a capacity of 100,000 tons/year to accommodate demand by downstream plants, which exceeded the current propylene capacity
    October
    • With Ubon Bio Ethanol Co., Ltd., signed a five-year ethanol tankfarm service agreement for IRPC’s depot in Phra Pradaeng to store and distribute the chemical.
    November
    • Launched a construction project for a viewing (observation) tower at the Phra Chedi Klang Nam Mangrove Ecology Learning Center in Honor of HM the King. This Rayong attraction will in time be turned into a mangrove forest learning center.
    December
    • Signed a land sales agreement in IRPC’s ECO Industrial Zone 4 with Thai Kyowa Biotechnologies Co., Ltd., a major manufacturer and seller of medical supplies and cosmetics, regarded as a clean industry as required by ECO industrial zones.
  • 2010

    January
    • Acquired a long-term syndicated loan for its investment projects and business operations from local financial institutions totaling Baht 3.7 billion with a drawdown period up to year-end 2012 and a maturity date in 2020–regarded as flexible and in line with IRPC’s business structure and capital needs
    • Acquired a long-term dollar loan for its investment projects from foreign financial institutions totaling USD 100 million, with a maturity date in 2020. Also, acquired a revolving facility in support of business operations by securing a USD-75 million loan from foreign financial institutions with a drawdown period to the end of 2018–also regarded as flexible and in line with IRPC’s business structure.
    February
    • Installed the Power Management System (PMS) to centralize total power supply system management for maximum stability and reliability.
    • Successfully implemented the Gasoline Hydrogenation Unit (GHU), designed to produce Euro IV gasoline up to the Ministry of Energy’s standards and requirements.
    March
    • IRPC’s project to develop the service business through I’M ACE seconded engineers to Samsung on assignments in the United Arab Emirates.
    April
    • Issued an organizational health survey for employees’ participation in the comprehensive assessment and improvement of organizational health, leading to sustainable organizational growth
    May
    • Collaborated with world-renowned Oxford University on R&D on high-performance polymers, striving for high-quality petrochemicals and polymers for the market.
    • Delivered the first lot of marine pipe-grade compound PE to Thai Asia PE Pipe Co., Ltd., Thailand’s major pipe producer, for salt-water pipelaying in Amphoe Khao Saming, Trat province.
    • With the Department of Industrial Works, signed a memorandum of cooperation on EIZ development in IRPC’s industrial estate in Thailand.
    • Joined an Equity Participation Signing Ceremony for investment in Ube Chemicals (Asia) Plc for 25% of the paid-up capital, worth some 5.3 billion Baht
    June
    • With Thai Airways International Plc, signed an agreement on the investigation of carbon credit purchase from the Combined Heat and Power plant
    July
    • Completed was the Lube Group 1 Specialty Products Focus Project, featuring environmentally friendly TDAE, RAE, and the Bright Stock lubricant. The commercial production start-up met market needs in the auto-tyre manufacturing business.
    • Signed an agreement with GE on the development of the maintenance capability of gas turbines in CHP and development of inhibitors in the EBSM plant
    August
    • Offered Baht 10 billion in domestic debentures to institutional and investors (public offering) in two tranches: three-year maturity and six-year maturity of Baht 5 billion each. This move increased liquidity to accommodate future projects.
    September
    • Launched “POLIMAXX BANBAXX”, a special polymer with an engrained bacterial inhibitor that had passed the JIS Z 2801 standard test of Japanese Industrial Standards.
    • Developed an e-Nose apparatus to analyze odor pollution of IRPC’s industrial estate.
    • With PTT, signed an MOU to investigate the potential of jatropha as a raw material for biofuels in Rayong.
    • Completed was the construction of the Propylene Project (PRP), which started up with a capacity of 100,000 tons/year to accommodate demand by downstream plants, which exceeded the current propylene capacity
    October
    • With Ubon Bio Ethanol Co., Ltd., signed a five-year ethanol tankfarm service agreement for IRPC’s depot in Phra Pradaeng to store and distribute the chemical.
    November
    • Launched a construction project for a viewing (observation) tower at the Phra Chedi Klang Nam Mangrove Ecology Learning Center in Honor of HM the King. This Rayong attraction will in time be turned into a mangrove forest learning center.
    December
    • Signed a land sales agreement in IRPC’s ECO Industrial Zone 4 with Thai Kyowa Biotechnologies Co., Ltd., a major manufacturer and seller of medical supplies and cosmetics, regarded as a clean industry as required by ECO industrial zones.
  • 2009

    January
    • Dr. Pailin Chuchottaworn assumed the position of Chief Executive Officer, succeeded Dr. Piti Yimprasert whose term ended on 31 December 2008
    • Signed Long-term Loan Agreement of 10,000 Million Baht with 5 local financial institutions for the funding of 5 investment projects, namely 1) ABS and CCM Capacity Expansion Project, 2) HDPE Pipe Grade Capacity Expansion Project, 3) Combined Heat and Power Plant Project, 4) Propylene Booster Project and 5) ABS and SAN Expansion Projects
  • 2008

    March
    • Early redemption of Thai Baht nomination debentures 360,000 units, in total face value of 360 Million Baht for the purpose of cash flow management and cost of capital reduction
    April
    • Ranked 1,434th among the Top 2000 Public Companies worldwide, recognized by "Forbes" a leading global financial magazine
    June
    • Affirmed Baa3 credit rating by Moody's
    July
    • Successfully launched Enterprise Resource Planning System (ERP Go-Live), enhancing enterprise resource and database management competency as well as empower data linkage between all business segments
    August
    • Acquired stake in PTT Polymer Marketing Co.,Ltd from PTT Plc. for 25% of shareholding or totally 58.32 million baht of investment, enable IRPC to broaden marketing channel for polymer products both domestic and export markets
    October
    • Ranked 175th among Top 250 Global Energy Companies and 17th among Top 250 Asian Energy Companies, and ranked 42nd in Fastest Growing Top 250 Asian Energy Companies in Refining Segment 2008, categorized by "Platts" a leading energy information firm
    December
    • Completed ABS and CCM Capacity Expansion Projects. Production capacity increased by 21 KTA, ready for commercial run in the first quarter 2009 Completed HDPE Pipe Grade Capacity Expansion Project. Production capacity increased by 40 KTA, ready for commercial run in the first quarter 2009
  • 2007

    May
    • Rated Baa3 by Moody's and BBB- from Standard & Poor's for international credit rating
    • Hired Shell Global Solution (Thailand) Co., Ltd. as a consultant for crude refinery and petrochemical plant revamp
    • Sold unsecured, unsubordinated 10-year bond of $250 million face value with a fixed coupon rate of 6.375 percent with maturity in 2017
    June
    • Repaid the remaining bridge loan of $302 million with cash from operations
    • Issued and allocated 965 million warrants to current employees under the ESOP
    July
    • Sold two lots of unsecured and unsubordinated bonds with a total face value of 10 billion Baht
    • Lot 1: 7 million units of 1,000 baht bond with coupon rate of 5.05 percent per annum and a maturity in 2014
    • Lot 2: 3 million units of 1,000 baht bond with coupon rate of 5.29 percent per annum and a maturity in 2017
    • Allocated warrants for former employees of the Company and its subsidiaries under rehabilitation. The allocations of warrants for the current and former staff in total do not exceed 975 million units.
    September
    • Ranked 231st among 250 top global energy firms and 10th in the Fastest Growing Asian Energy Companies 2007 categorized by leading energy information firm Platt's
    December
    • Awarded "The Asset" Triple A Award: Best Thailand Deal" by "the Asset", an Asian leading financial magazine, for the most successful issuance of 10-year bond total face value of $250 million in the international markets.
  • 2006

     
    • TPI exited from the rehabilitation in April 2006.
    • New Board members were appointed and the number of members increased to 25.
    • TPI increased its working capital facilities and reduced its financing charges
    • In Sept 2006, TPI has successfully refinanced the Scheme debt with a one-year unsecured bridge financing from 6 local banks and 2 international banks
    • On 31 Oct 2006, TPI was renamed to IRPC
  • 2005

     
    • A successful recapitalization of TPI took place. The representative of the Ministry of Finance took a 61.5% stake in TPI through PTT and other Government-related bodies
  • 2004

     
    • new restructuring plan was approved
  • 2003

     
    • The Effective Planner Limited was removed and Debtor Management was appointed as the Interim Plan Administrator. The representative of the Ministry of Finance was subsequently appointed as the Plan Administrator
  • 2000

     
    • Effective Planner Limited was appointed as the Plan Administrator by the Thai Central Bankruptcy Court to implement a Business Reorganization Plan
    • The construction of the second refinery was completed and the total refining capacity increased to 215,000 BPSD
  • 1997

     
    • TPI completed the construction of the first fully integrated petrochemical production complex in Thailand and South East Asia
    • Asian crisis began and TPI declared a debt moratorium
  • 1995

     
    • TPI shares were listed on the Stock Exchange of Thailand following an IPO which raised USD 367mn
  • 1994

     
    • Liberalization of the petrochemical industry
  • 1982

     
    • TPI completed construction and began operating the first LDPE plant in SE Asia
  • 1978

     
    • The company incorporated as Thai Petrochemical industry Company Limited (TPI) with initial paid-up capital of THB 300mn