Germany-based TUV SUD PSB, an international testing body, is diversifying to engineering services to tap growing demand in renewable energy, energy efficiency and rail systems in Thailand.
Chong Weng Hoe, chief executive of TUV SUD PSB (Thailand), said the company foresees huge potential in the Thai market, especially in the energy and rail system sectors.
“Thailand’s geography offers massive renewable energy development potential,” said Mr Chong.
Starting operations in Thailand in 2001, TUV SUD was the country’s first certification body, expanding later to testing services for automotives, IT, telecoms, textiles and chemicals.
The new services include energy-efficiency system solutions, energy management, testing, inspections, training and advisory consulting, as well as designs for the demolition of rail systems.
“Our experts and innovations can help Thai authorities, manufacturers and investors to achieve energy sustainability and greater energy efficiency in a safe and reliable way,” he said.
The firm aims for sales revenue to increase by 10%-12% this year from 5 million euros in 2011, with continued two-digit growth in 2013. Last year its global revenue totalled 1.7 billion euros.
Dirk Eilers, a board member of TUV SUD’s management board, said energy demand in Thailand is projected to surge by 39% to 71,728 megawatts by 2025. The Thai government has promoted energy efficiency and increasing dependence on renewable energy resources is gaining momentum.
The government’s development plan aims for renewable energy to skyrocket to 25% of the total by 2021, up from about 7% now, which could create thousands of jobs if the industry develops.
The Thai government is also planning to develop its rail transport system to become cleaner as it attempts to build more green cities, he added.
Mr Eilers noted the company is one of the leading certification bodies for environmental projects in accordance with international standards.
TUV SUD’s new services will be introduced to the public today at the seminar “Energy Sustainability for a Greener and Safer in Thailand”, along with representatives from the National Science and Technology Development Agency and the Thai-European Business Association.
The company was founded in Mannheim, Germany in 1866 for the purpose of boiler inspections. It expanded to Asia in the 1990s and in 2006 acquired Singapore-based PSB Group, renaming it TUV SUD PSB.