Electricity Generating Public Company Limited or EGCO Group announced the first quarter 2019 operating profit of 2,915 million baht. Moving ahead to a new business, the Company has planned to convert its former power plant in Rayong to be an industrial estate in the Eastern Economic Corridor (EEC).

Mr. Jakgrich Pibulpairoj, President of EGCO Group disclosed that “For the first quarter 2019 operating profit before the effects of foreign exchange, deferred income tax and lease income, the Company booked 2,915 million baht, a decrease of 13,223 million baht compared to Q1/2018. However, in case of excluding gains on disposal of investments amounted 14,162 million baht, the normal operating profit before the effects of foreign exchange, deferred income tax and lease income increased by 939 million baht or 47% when compared to the same period last year, due to an increase in power generation business of 1,028 million baht.”

For its three ongoing development projects, they have been progressed well as plan and scheduled. The Xayaburi power plant in Lao PDR and the San Buenaventura power plant in the Philippines will be completed and begin commercial operations in 2019. The third project, Nam Theun 1 power plant in Lao PDR, will be completed and start commercial operation in 2022.

“Presently considering the progress of new investment, EGCO Group is doing a master plan and studying an Environmental Impact Assessment (EIA) for the development of the industrial estate in Rayong. We will convert our old power plant in Rayong into a smart industrial estate to serve rising investment in the Eastern Economic Corridor (EEC). Additionally, we will seek opportunity to invest in related businesses, such as LNG, both domestically and overseas,” Mr. Jakgrich added.

About EGCO Group

As of April 30, 2019, EGCO Group runs 27 operating power plants with total equity contracted capacity of 5,154 MW in 6 countries across Asia Pacific region – Thailand, Lao PDR, Philippines, Indonesia, Australia and South Korea. There are 3 projects under construction with total equity contracted capacity of 544 MW. The Company’s power plants generate electricity using various fuel sources such as natural gas, coal, biomass, hydro, solar, wind, and geothermal.