Bangkok--21 Aug--Hill & Knowlton
EGCO Group announces 2007 first six months operating results EGCO Group is confident of winning IPP bid
EGCO Group has announced a consolidated net profit for the first six months of 2007 ended 30 June, of Baht 5,025 million, an increase of Baht 1,372 million or 38% compared with the same period in 2006. Excluding the impact of foreign exchange rates on EGCO and subsidiaries, the net profit was Baht 4,922 million, representing an increase of Baht 1,761 million or 56 % as compared to the same period of the previous year; or 9.54 Baht net profit per share.
Visit Akaravinak, President of EGCO Group, said, “The operating results of the first six months of 2007 are higher than the company’s expectation. This better than expected performance was the result of the share of profits from joint ventures which is an increase of Baht 3,356 million compared with the same period last year. The main source of profits is from the recognition of the share of profit from BLCP since January 2007 as well as the share of profit from Unit 1 of the Kaeng Khoi 2 since May 2007.”
Khun Visit added, “For the upcoming IPP bidding, EGCO Group is confident of winning at least 800 MW (one plant) as the company has prepared thoroughly for all financial, technical and commercial aspects. The EGCO Group is currently preparing to participate in the bidding with proposals that will use natural gas as a fuel supply. In addition, the group has conducted its business with a strong commitment to social responsibility and sustainable development for more than 15 years.”
EGCO Group has a deep commitment to ensuring for environmental management and community development of the plant vicinity using the latest environmental-friendly technology and carrying out machine maintenance on a regular basis to reduce local emissions. Recently EGCO Group’s top management has approved payment to support the government’s
Clean Energy Fund policy. The fund will be used for;
1. Compensation for any damages caused by the plant
2. Development of local community’s occupations and quality of living
3. Supporting education, culture, sports and music
4. Development of public health and environment
5. Supporting local community’s power bill
6. Development of renewable energy sources
- During the construction period, it would pay
Bt 12 million per year for 400 MW
Bt 21 million per year for 700MW
Bt 24 million per year for 800MW and
Bt 48 million per year for 1,600MW
- During the commercial operations period, it would pay
Bt 25 million a year for 400MW
Bt 45 million a year for 700MW
Bt 51 million a year for 800MW and
Bt 103 million a year for 1,600MW
About EGCO Group
EGCO Group, the first independent power producer in Thailand, provides a range of integrated services in electricity generation, operation, maintenance, engineering and construction services to power plants and other industries in Thailand and other countries.
At present EGCO has a generation capacity of 3,509 MW from fourteen power plants
For more information, please contact:
Corporate Communications Division Rachit Khemsaksith/ Wiriyaporn Tantinipankul
Electricity Generating Public Company Limited Hill & Knowlton Thailand
Tel: 0 2998 5135-7 Tel: 0 2627 3501 ext. 204, 208
Fax: 0 2955 0958 Fax: 0 2627 3510
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