Marubeni Awarded Contract for Construction of Combined Heat and Power Plant from IRPC in Thailand

Sep. 14. 2009
Marubeni Corporation

Marubeni Corporation (“Marubeni”) has been awarded a contract for construction of a Combined Heat and Power (CHP) plant from IRPC Public Company Limited (“IRPC”), a petroleum refinery and petrochemical manufacturer belonging to the PTT group which is well known as the biggest energy company group in Thailand. With a maximum capacity of 220MW and 400 tons/h steam, the contract is worth approximately 124 million US dollars and the plant is expected to be commissioned in May 2011.

IRPC is the owner of the South East Asia’s largest integrated petrochemical complex in Rayong province of Thailand, and plans to further invest 1.2 billion US dollars within the next 5 years in order to strengthen its existing business as well as develop new business opportunities and enhance their sustainable growth. This project is part of the 5 year investment plan. The electricity and steam generated by the CHP plant will mainly be utilized at their petrochemical complex and also contribute to reducing the emission level of the petrochemical complex using Natural Gas as a fuel.

Marubeni enjoys a successful record in power plant construction projects in Thailand, having been awarded multiple combined cycle projects in 2005 and 2006 by EGAT (Electricity Generating Authority of Thailand), as well as another project by the other public company in 2008.  Considering its successful business relationship with IRPC in the petro-chemical industry, Marubeni targets to successfully complete this CHP project and further expand future business opportunities in the power sector with IRPC as well as the PTT group.

<Summary of IRPC>
Name  : IRPC Public Company Limited
Location  :  Bangkok  (Thailand)
Foundation :  In 1994
Shareholders :  PTT 36.77%, Government Saving Bank 9.9%, Others (fund) 53.33%
Business Field : Petroleum refinery and Petro-chemistry

<Summary of IRPC Combined Heat and Power (CHP) Project>
Kingdom of Thailand
Project Name  :
IRPC Combined Heat and Power (CHP) Project
Client  :
IRPC Public Company Limited
Shareholders :  PTT 36.77%
Government Saving Bank 9.9%
Government Pension Fund 8.06%
Others(fund) 45.27%
Summary of the project : Construction of Combined Heat and Power plant to generate electricity and steam for integrated petrochemical complex of IRPC in Rayong
Configuration  : 6 x GTG (GE - F6) / 6 x HRSG (Vogt) / BOP
Capacity : Approx. 220MW Electricity and 400tons/h Steam
Contract Price :
Offshore : USD 79,741,000
Onshore : USD 4,300,000
THB 1,358,000,000
Total : USD 124mil  (1USD = 34 THB)
Schedule  :
July 2009                      Issue of LOI
September 2009        Sign of contract
February 2011            Completion of  the unit 6
March 2011                 Completion of  the unit 5
April 2011                    Completion of the unit 3&4
May2011                      Completion of the unit 1&2
Vendor :
Offshore: Jurong Engineering Limited
Onshore: Thai Jurong Engineering Limited
Scope :
Supply of all of the plant equipments and materials except GTG and civil, erection and commissioning of all systems of the plant


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