Egco maintains full-year net profit target of up to Bt6 bn
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Electricity Generating (Egco) is confident of meeting its target this year of maintaining net profit at around Bt5 billion to Bt6 billion.
This is in line with Egco’s target of maintaining a similar yearly profit level through 2015 by effective management of existing assets and implementation of its business strategies, said the company’s president, Sahust Pratuknukul.
Sahust said Egco also planned to expand its overseas investment beyond existing interests in the Asean region, to boost growth of both revenue and production capacity.
The company posted satisfactory performance in the first nine months of this year with total power-production capacity of 4,973.9 megawatts from its 14 fully operational power plants in Thailand and overseas, Sahust said.
Egco posted net profit of Bt4.514 billion during the first nine months, down 31 per cent year on year.
The company’s small-power-producer projects, TJ Cogen, TP Cogen, and SK Cogen, with combined production capacity of 375MW, are waiting on power-purchase deals with the Electricity Generating Authority of Thailand, he said.
The first phase of commercial operation of its Lop Buri solar plant has been delayed from this month to December. The plant has already started a trial run and is expected to begin commercial operation of the final phase in March, one month ahead of the original schedule.
Sahust said Egco had conducted a feasibility study on a possible capacity expansion of Quezon Power (Philippines), of which it owns more than 52 per cent, and to invest in the alternative-energy business in Asean.
In a related matter regarding its investment, Alsons Consolidated Resources said it was in talks with Egco and Toyota Tsusho Corp for a possible partnership in a 200-megawatt power plant in the southern Philippine island of Mindanao, according to Bloomberg.
Alsons also awarded to Daelim Industrial Co of South Korea the engineering, procurement and construction contract for a 100MW power plant, it said in a disclosure to the stock exchange.
