Thailand’s Ratchaburi Electricity Generating Holding (RATCH) has joined hands with Medco Energi Internasional to bid for a 250-MW natural gas-fired power plant in Riau, Indonesia.
The Thai firm will hold 49% stake in the joint venture while the Indonesia’s Medco Energi Internasional will own the remaining 51% stake.
Meanwhile, RATCH on Tuesday announced its redefined business plan. The company’s strategy for growth will shift its focus more on expansion into new business besides power and energy, and overseas investment. It targets to achieve the equivalent capacity goal of 10,000 MW by 2023, and 20-percent renewable energy capacity out of the target so as to serve the country’s greenhouse gas reduction scheme.
For the first-half 2016 the company recorded the 2.360-billion-baht profit, up by 2.3% over the same period of last year. Additionally, in the first half of 2016, the company posted the 27.399-billion-baht revenue.