One Anametrics, a cooperative of petroleum specialists, international and Thai bankers and an energy innovator from Russia, is to invest in a new type of oil refinery, worth Bt 12 billion (€0.3 billion) over the next five years.
The company will invest Bt3 billion in a hydrocracking oil refinery, a new Russian innovation that is able to increase production efficiency and cut costs by 5-10%.
Iter Holdings produces and owns the technology. The first batch of equipment will arrive in March.
The refinery will take 14 months to build and will refine 12,500 barrels a day, 70% of which will be diesel, 20% benzene and 10% fuel oil.
About 80% of production will be exported to southern China and neighbouring countries, such as Burma and Cambodia. The remaining 20% will be sold locally.
The company will invest in six oil tanks, each capable of storing 5,000 tonnes and to be used to store crude oil imported from Russia and Indonesia.
Three other tanks will be built to store refined oil over the next five years.
As a Section 7 trader under Thai law, the company must own tanks to store oil.