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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
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