Asia Green Energy links with partners to boost services for big industrial plants

Panom Kuansataporn, executive chairman of the executive committee of AGE, said the company had adjusted its business strategy to achieve sustainable growth in revenue and profit from the existing business. The joint-venture company has signed a memorandum of understanding on steam sales with customers.
Panom said AGE, which distributes high-quality bituminous clean coal, said the board had approved the proposal for the establishment of At Energy Solution, with 45 per cent  of the shares to be held by the company, 45 per cent held by TRC Construction Public Company Limited (TRC), and 10 per cent held by Appliance Technology Supplies (AP TECH). The joint venture has registered capital of Bt300 million. 
The business objectives are to provide utility supply and services to industrial plants in general such as manufacturing and distribution of steam, electricity, and water generated by coal fuel or other fuels as requested by customers. 
The company’s expansion to energy supply and services is aimed at strengthening its operating results in terms of revenue and profit to grow with stability and sustainability in the future other than relying on its coal supply and distribution and logistics services, which are the existing businesses.
Panom added that a feasibility study was performed on At Energy Solution with the cooperation of several large industrial plants to determine the joint venture’s energy supply and services. The operation is expected to begin towards the end of 2019 and the complete returns will be recorded in 2020. The MOU on steam sales was made with Thai Packaging Industry Public Company Limited and the revenue will be realised in 2020.