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In 2021, it will be a new chapter of “Thai Oil” or TOP, moving towards the 60th year that will not be just “oil” or oil business anymore. Rather, it will be the energy and chemicals company with the longest production line. Since the oil refinery To petrochemicals in the aromatics line And the olefins Which has a high added value from the previously expanded Clean Fuel Project (CFP) investment Halfway construction It is expected to be successful in 2023 and will continue to penetrate downstream businesses to connect with the CFP.
On the other hand, Thaioil also has a power business and a shipping business, ”Mr. Wirat Uanarumit, Chief Executive Officer. And President of Thai Oil Public Company Limited told “Prachachat Business” that the year 2021 will be restructured in the power business.
Sell GPSC shares to PTT
He projected an image of the electrical business as Thaioil currently holds shares of Global Power Synergy Public Company Limited or GPSC until December 3, 2020, holding 24.5%, selling 3.5% of shares to PTT worth 17 billion because We hold too much
Go back to the previous The company is the founder of GPSC, bringing together several power plants, one of which is GPSC’s main plant, Thaioil IPT, stands for Independence Power Thailand, the first IPP company in Thailand. So we have quite a lot of stocks in GPSC.
“When selling shares to PTT had a question from the shareholders why it was sold. But about 99.97% of the shareholders’ meeting approved that we would cut a small percentage in GPSC, but we weren’t saying we weren’t growing. But we will direct our focus on renewable solar windings. Because one part of us has a need to use our own energy, so we will serve this part. “
“But at the same time, I think about the supply chain, that we are going to invest in 4-5 countries that are the focus, these areas have a lot of electricity demand, and we look at the projects in Vietnam, Myanmar. Countries where many projects meet our renewable needs, we will invest in cooperation with PTT as well, because he set up a target that within 5 years, 8,000 MW of electricity in the whole group wants to grow as Leap forward, so we are not worried about going to compete with each other. “
Opportunity to expand investment in Thailand
As for the plans to expand electricity investment in Thailand He admitted that there were still some plans. But due to the small growth rate in Thailand And reserves (reserve) electricity in Thailand is overflowing Compared to foreign countries with very high demand for electricity Especially in Vietnam After foreign investors expand their investment And also Myanmar, India and Indonesia That has a great demand for electricity as well
Restructuring the power business
Mr. Virat said about the electricity business in Thailand that Speaking of Thailand, we are doing this: we have a 27-year-old 100-megawatt power plant of Thai Oil Power with a contract expiring in the next 3 years, we will invest in a new SPP plant. But does not add Kapacity, but will replace the antique which leased state warehouses This power plant is used for internal use.
“The reason for the rebuild is because it has proven that extending life is useless. Because it was not long And not Efficacy, so smash it away. This is the contract of EGAT. I used to have an idea of repowering, that is, it has been completed for 5 years and the efficiency cannot be matched with new things. “
Point out of status – save tax
“About the second quarter of next year, the company will be terminated. Which may change the company name because we may dissolve that company We do not use Thaioil Power. We will EBT is entry business transfer, which is part of our restructuring of our power business shareholding. We will dissolve this company and we will hold direct like GPSC held by Thaioil Power. “
“When it is considered lacking, we accept the Divide back. We have to pay taxes Which only 10% tax, when the restructuring helps save hundreds of millions of baht in taxes, the more GPSC the bigger the divide increases Tax increase So we took the opportunity to sell our shares and adjust our business structure to be more efficient. The dissolution of the company does not affect the employees. Because it is a holding company, does not have employees “
Future Income Share
At present, 80% of the Company’s revenue comes from petroleum, 15-20% comes from the electricity business, the main one being investment in GPSC that returns returns. Including Thai Oil Power is both direct and indirect investments.
But in the future, Thai Oil will invest directly in the power plant business. Looking ahead 10 years or 2030 or sooner, petroleum revenues are only 40-50% going downstream, with another 40% coming from petrochemicals, particularly olefins. The power plant business will remain at 15% and the other 5% is the return on investment in new businesses. Startup Group By various Venture Capital
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