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PTT Group, RATCH to jointly expand SE Asian energy investment

Forging energy development opportunities to ensure domestic energy security by pooling Thai companies’ skills

Today (June 24, 2015), H.E. Mr. Narongchai Akrasanee, Minister of Energy, presided over the signing ceremony of memorandums of understanding (MoUs) involving feasibility studies on investment cooperation in energy projects between PTT Group and Ratchaburi Electricity Generating Holding Plc. (RATCH).  Under the MoUs, PTT Group—represented by PTT Plc, PTT Energy Resources Co., Ltd., and Global Power Synergy Plc (GPSC)—and RATCH will carry out investment feasibility studies on Southeast Asian energy projects to meet domestic energy demand, while promoting domestic energy security and consolidating overseas business operations.

The minister said this represents a bold step toward synergy in Thailand’s private sector, which commands specialized skills, to shape the country’s future.  Such cooperation will bring about studies into major energy projects considered vital to the national energy direction, involving both LNG and coal.  Going forward, cooperation by each party will boost confidence among investors, Thais and foreigners alike.  Above all, the joint efforts demonstrate the competence of Thai energy and power companies that—standing firm on their determined roles to ensure the kingdom’s energy and economic stability-managed to create a national energy network devoted to energy sustainability.

Mr. Nuttachat Charuchinda, PTT Plc COO, Upstream Petroleum & Gas Business Group, said PTT Group signed three MoUs at today’s event:

MoU 1 - signed by PTT Plc’s Gas Business Unit and RATCH, involving an investment feasibility study on an LNG-receiving terminal in Myanmar, to also serve as a channel for gas supply for power plants

MoU 2 - signed by PTT Energy Resources and RATCH, involving a feasibility study on knowledge exchange and investment in coal-fired power plants in Myanmar

MoU 3 - signed by GPSC and RATCH, involving a feasibility study on joint investment in a coal-fired power plant in Indonesia and a power and public utility plant in Vietnam’s central region.

Mr. Pongdith Potchana, RATCH CEO, said his company is now focusing on expanding investment, mainly in neighboring countries and in ASEAN, under its prime strategy of growing with business partners.  Besides representing a preliminary success, this cooperation with PTT Group demonstrates major corporations’ role model in forming ‘Team Thailand’ that is competitive with global players.  Having a formidable ally like PTT Group assures progress and growth at both corporate and national levels.

Mr. Surong Bulakul, GPSC Chairman and PTT Plc COO, Infrastructure, stated that in its capacity as PTT Group’s power and public utility flagship, GPSC is determined to internationalize Thai power caliber to consolidate its position in ASEAN.  This endeavor will concurrently enhance power security for ASEAN members like Myanmar, Indonesia, and Vietnam.  GPSC has previously carried out feasibility studies into several power projects in Myanmar.  Besides its own studies, its strategies call for cooperation with business allies like RATCH to explore for opportunities for setting market footprints outside Thailand.  Along this line, today’s MoU is considered a first milestone.

Mr. Peerachat Pinprayong, acting Managing Director, PTT Energy Resources Co., Ltd., said that PTT recognizes synergy among leading companies of each business and investment opportunities in high-potential countries as well as its own intention to address the public policy on energy sustainability.  As the coal flagship of PTT Group, PTT Energy Resources is pleased with this collaboration with RATCH—regarded as a mainstay of the Thai power business.  This joint effort will explore the viability of investment in a coal-fired power plant in Myanmar.  He hoped that this cooperation will lead to greater success in Thailand’s power supply capability.

Companies under the PTT Group and RATCH are Thailand’s leading corporations with expertise in energy and power.  The MoUs signed today signified another bold step toward success while demonstrating major cooperation in Thailand’s energy affairs, which will raise national competitiveness, thus keeping Thailand ready for international competition with strength, confidence, and sustainability.

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