IRPC board to invest $87 million on Phoenix Project

IRPC’s board of directors approved an additional investment of US$87 million for four small projects under its five-year Phoenix Project. The Phoenix Project is the name of Thailand-based IRPC’s US$1.2billion investment plan for 2007-2011, aimed at making the integrated oil and petrochemical manufacturer the petrochemical leader in Asia by 2014. The project will be divided into many phases, with completion expected in 2012. (July 22, 2010)