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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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Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
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- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
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- MS Steel International - UAE
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
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- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
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- Salva Resources Pvt Ltd - India
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- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
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- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
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- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
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- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
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- Wood Mackenzie - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
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- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
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- IEA Clean Coal Centre - UK
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- Madhucon Powers Ltd - India
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- Economic Council, Georgia
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- Indian Energy Exchange, India
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- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
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- Sojitz Corporation - Japan
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
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- Siam City Cement - Thailand
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- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- The University of Queensland
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- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
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- Australian Coal Association
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- Kartika Selabumi Mining - Indonesia
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- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
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- European Bulk Services B.V. - Netherlands
- Planning Commission, India
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