Bangchak Petroleum unveils investment budget

Bangchak Petroleum PCL, Thailand’s leading refinery, has set big investment budgets for capacity expansion and the upgrading of its plants. The company will invest THB 8 billion (US$259 million) within the next eight years to modernize its plants and increase capacity by 20% to 120,000 barrels per day. The upgrades of its plants is part of the company’s investment plan totaling THB26 billion (US$841.13 million), out of which THB1 billion (US$32.37 million) will be spent on biofuels, THB15 billion (US$485.67 million) on solar plants and the rest will be used to increase oil production. For 2012, the company has allocated an investment budget amounting to THB 7.3 billion (US$ 236.3 million). (March 15, 2012)