The Bangkok Post reported that
Mr Tevin Vongvanich CFO of PTT Plc said that “PTT is now talking with two hydropower plant licence holders in
He said that the move is aimed at tapping into growing demand for power in
However, an industry source said the plants in question were possibly the Xayaburi and Xe Nam Noi projects.
PTT’s board recently approved a 5 year investment budget for 2011-15 worth THB 327 billion, with 46% earmarked for foreign operations such as coal mines, palm oil, floating liquefied natural gas, power generation and asset acquisition.
Of the total, almost THB 229 billion would be used for committed or approved projects and the rest for new investment opportunities. JV investments would account for 51% of the budget, natural gas projects 39%, oil operations 4% and head office and other expenditures 6%.
About THB 95 billion of the total would be spent next year alone. If projects by subsidiaries are included, particularly for oil and gas exploration and production, the investment budget increases to THB 900 billion.
Mr Tevin said that funding would come mainly from cash flow and debenture issues. PTT has been involved in power generation since 2004 but only on a small scale.
The company formed a JV with PTT Chemical Plc and PTT Aromatics and Refinery Plc to build a 50 MW gas fired power plant in Rayong’s Map Ta Phut industrial estate, which started operating in 2007. That project cost THB 2.43 billion.
In 2009, PTT formed another venture with Navanakorn Plc and Ratchaburi Electricity Generating Holding to build a 260 MW gas fired power plant in Pathum Thani serving industrial clients in the Navanakorn industrial estate. The company owns 30%.
And just two weeks ago, PTT formed a JV with B Grimm Group and Pathum Thani’s Bang Kradee industrial estate to build a 118 MW gas fired power plant in that province. The company has 23% ownership of the project.
(Sourced from www.bangkokpost.com)
