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Thailand Industrial – Egco Plans Rayong Industrial Estate

By on Sep 12, 2014 in Industrial, Property News

Electricity Generating Plc (Egco), Thailand’s second-largest private power producer, wants to diversify to industrial estates, with the first project located on its 500-rai former power plant in Rayong.  President Sahust Pratuknukul said Egco had previously planned to redevelop the plant, which fed electricity to manufacturers in Map Ta Phut for 20 years.

The gas-fired plant’s operating concession from the Electricity Generating Authority of Thailand will expire at the end of November.  The Electricity Regulatory Commission is not expected to renew the concession, as the plant has old, inefficient facilities and technology.  Egco is in talks with large petrochemical producers in the area as potential clients while it conducts a feasibility study for the industrial estate.

Egco was last year awarded a concession for the gas-fired Khanom power plant in Nakhon Si Thammarat for another 20 years to serve rising demand in the South.  Its concession will end by mid-2016, while capacity after renovation will rise to 930 MW from 750 MW.

Last year Egco acquired shares in two coal-fired power plants in the Philippines, comprising 49% in San Buenaventura Power Co and 41% in Masinloc Power Partners Co, with combined capacity of 1,100 MW.  Egco posted a second-quarter net profit of 2.47 billion baht, up by 52.5% year-on-year, thanks to the new Philippine capacity.  Its first-half net profit was 4.95 billion baht, up by 23.4% year-on-year.  EGCO shares closed yesterday on the Stock Exchange of Thailand at 166.50 baht, down one baht, in trade worth 45.2 million baht.

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