GPSC wants to build three power plants in Myanmar
POST REPORTERS
Global Power Synergy co (GPSC) is planning to build power plants with a total generating capacity of nearly 3000 megawatts in Myanmar, says president and chief executive ToemchaiBunnag
The move is part of the company’s five-year plan (2015-9) to expand in the region, where power demand is expected to increase substantially with the integration of the Asean Economic Community.
GPSC has signed a memorandum of understanding with the Myanmar government and is conducting a feasibility study to develop a 2000 MW coal-fired power plant as well as two natural gas co-generation plants with power – generating capacity of 500 MW and 400 MW, respectively.
“The plan to develop the natural gas co – generation plants is likely to proceed first,” said MrToemchai.
The company is also in the process of seeking investment opportunities in Indonesia.
MrToemchai said the company is on track with its five- year plan, comprising investment of 18 billion baht to expand its power-generation business in Asean.
The plan aims to increase GPSC’s powergenerating capacity to 2800 MW by 2019, up from 1376 MW
GPSC also has a hydropower project in Laos with 65 MW of capacityunder construction. Commercial operation is set to begin next year.
The company gained a 180 –million-baht dividend from its 15% share in Ratchaburi Power Co (RPCL), a subsidiary of SET- listed Ratchaburi ElectricityGeneratng Holding Plc(RATCH),the country’s biggest private power producer.
GPSC is also expected to gain to a dividend from its investment in Nava Nakorn power plant, in which it holds 30% of shares. The Nava Nakorn plant has a capacity of 125MW and is due to start commercial operation, selling both power and steam, in June.
The company plans to hold roadshows in over 10 location in both domestic and international markets from March to April to bloster investor confidence
GPSC shares closed yesterday on the SET at 26 baht, down 25 satand,in trade worth 49.6 millon baht.