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Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
 Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electricity Generating Public Company Limited or EGCO Group revealed the company's financial performance for the second quarter of 2012 ended June 30 that its operating profits before FX was 1,963 million baht, an increase of 222 million baht from the same period of 2011. The uplifted performance was from the group's increasing profits before FX of the power generation business at 190 million baht and of the other business at 32 million baht. The company's ending balance of cash and cash equivalents was 4,978 million baht and had debt to equity of 0.56 times. Including an extraordinary profit from the additional acquisition in Quezon Power Plant, EGCO Group’s profit would have been 6,273 million baht, an increase of 4,524 million baht from the same period of last year.
As for the second quarter of 2012, Mr. Sahust reported that EGCO Group had successfully expanded investments in Thailand and ASEAN and ventured in new business in order to become an integrated energy provider. In the country, the company acquired 99.99% of ownership in two commercially operated solar power plants namely SPP2 in Saraburi province and SPP5 in Roi Et province with the capacity of 8 MW each from MEMC Singapore Pte Ltd. Those power plants have entered into a non-firm power purchase agreement with Provincial Electricity Authority (“PEA”), and are subsidized with adder of 8 baht/MW for 10 years.
In ASEAN, EGCO Group has acquired an additional 45.875% stakes in the Quezon Power Plant in the Philippines which summed up to 98% total holding stakes and also acquired 100% stakes in InterGen Management Services (Philippines), Ltd. (IMS). The acquisitions entitled EGCO Group as the major shareholder in the Quezon Power Plant enabling the company to mandate project management and administrative support to Quezon under a long-term Power Purchase Agreement.
EGCO Group had taken the first step into new business with an acquisition of 50% stakes of Biodiesel Plant Project from Absolute Power P Co., Ltd. (Absolute), with a total capacity of 300,000 litres per day. The Biodiesel Plant is located in Rojana Industrial Park, Rayong province. Additionally, the company recently reached itself into coal mine business by signing the Share Purchase Agreement to acquire 40% ownership of interest in the Manambang Muara Enim coal mine project (MME) in Indonesia, and became partner of Indonesian company PT Alam Karya Nusantara.
In terms of business development direction for the second half of 2012, EGCO Group plans to maintain investments in renewable energy projects in Thailand. The company is up to the next IPP bidding and is eager to explore new opportunities in the neighboring countries such as Laos and Myanmar.
For international business development, EGCO Group has a solid plan to invest in an extension of 500 MW in Quezon Power Plant and seek for further investments in ASEAN like the Philippines, Indonesia, and Vietnam. It also continues expanding into new businesses to meet the 'integrated energy provider' objective.
“The achievement in the acquisitions and joint-ventures in the second quarter are in accordance with the strategic direction to extend renewable energy business, expand international markets and become the integrated energy provider. This is to strengthen our investment ground in response to our promising growth in ASEAN in the near future.” concluded Mr. Sahust.
EGCO Group currently runs 20 operating plants and 9 projects under development in Thailand and overseas with total installed capacity of 6,191MW.
Source : EGCO's website
About EGCO
The Electricity Generating Public Company Limited or EGCO is the first independent power producer in Thailand. EGCO was incorporated on May 12, 1992 by Electricity Generating Authority of Thailand (EGAT) which marked the commencement of the Thai government’s privatization initiatives to allow broader private sector investment in the power sector. EGCO was transformed into a public company on March 23, 1994 and was listed on the Stock Exchange of Thailand (SET) on January 16, 1995.
EGCO is a holding company with investment in power generation and supply as well as comprehensive energy services providing operation, maintenance, engineering and construction services to power plants and other industries in Thailand and overseas. Furthermore, the company also searches for other good opportunities for growth in the energy related to the core business.
With the corporate philosophy to grow business over a long term, EGCO Group efficiently runs our electricity generating business while taking care of the environment and the society to maintain the balance between economics return and social and environment contribution which will lead to national sustainable development.
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Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Indian Oil Corporation Limited
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- Economic Council, Georgia
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- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
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- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
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- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
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- Simpson Spence & Young - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
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- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
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- Vizag Seaport Private Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
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- Dalmia Cement Bharat India
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- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- The University of Queensland
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Australian Coal Association
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
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