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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Eastern Coal Council - USA
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
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