Bangkok--15 Aug--Media Planner Consultant
Asia Green Energy Public Company Limited or AGE joins hands with TRC Construction Public Company Limited and establishes a joint venture company, "At Energy Solution Co., Ltd.", to provide energy supply and services which are the expansion of the coal business. "Panom Kuansataporn, Chairman Executive Committee indicates the business strategy adjustment is to build up long-term stable and sustainable growth of revenue and profit from the existing business. The joint-venture company has already singed an MOU of the streaming sales with customers.
Panom Kuansataporn, Chairman Executive Committee, Asia Green Energy Public Company Limited (AGE), the distributor of high-quality Bituminous clean coal disclosed that the approval from the Board's meeting to establish a joint venture company, At Energy Solution Co., Ltd., of which 45% of shares are held by the Company, 45% of shares are held by TRC Construction Public Company Limited (TRC), and 10% of shares are held by Appliance Technology Supplies Co., Ltd. (AP TECH), with total registered capital of 300,000,000 baht.
The business objectives aim to provide utility supply and services to industrial plants in general such as manufacturing and distribution of stream, electricity, and water generated by coal fuel or other fuels as requested by customers.
The Company's expansion to energy supply and services is to strengthen 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.
Chairman Executive Committee of Asia Green Energy Public Company Limited (AGE) added that the feasibility study was performed on At Energy Solution Co., Ltd. or the joint venture company with cooperation of several large industrial plants to determine the joint venture's energy supply and services. The operation is expected to be commenced around the end of 2019 and the complete returns will be recorded in 2020. However, the joint venture has signed MOU on stream sales with Thai Packaging Industry Public Company Limited and the implementation and the revenue will be realized in 2020.