Revived Thai's NFC studies sulphuric acid plant project

04 March 1995 00:00  [Source: ACN]

THAILAND'S National Fertiliser Corporation (NFC) is looking into building a 420 000 tonne/year sulphuric acid facility in conjunction with its 1m tonne/year NPK fertiliser plant, now under construction in Mab Ta Phut, Rayong (ACN 6 March, p25).

The company, which gained new life with the backing of the Petroleum Authority of Thailand (PTT) in January, has just signed a Baht6.6bn (US$267m) loan facility to finance the long-delayed fertiliser plant. It is now in the process of sourcing for partners and loans for the sulphuric acid facility.

The sulphuric acid plant will provide feedstock for phosphoric acid production for NPK manufacture, and also generate steam as a by-product. The steam will in turn be used to supply power required for the NPK plant. This will optimise the complex's operations by eliminating the need to import expensive natural gas for power generation, a company spokesman told ACN.

A loan for the construction of the US$250m fertiliser plant has just been signed with a consortium of Siam Commercial Bank, Krung Thai Bank, Siam City Bank and Industrial Finance Corp (ACN 9 January, p20).

After a restructure of the company's shareholders, PTT now owns 25 % of the company, the Industrial Finance Corp 15%, the Government Savings Bank 15%, Crown Rural Properties 10%, and National Petrochemical Corp 5%.

The NPK plant, using Hydro Agri technology, is being constructed by a Mitsui Engineering and Shipbuilding/Hyundai consortium managed by Foster Wheeler.

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