MOU Signing Ceremony between Poi Pet PPSEZ Co., Ltd. with B.Grimm Power Public Company Limited for POIPET PP SEZ'S Power Transmission & Distribution Development

The Kingdom’s new coming special economic zone operator under Phnom Penh SEZ PLC., recently enter into Memorandum of Understanding with a leading energy company in Thailand.

Phnom Penh, 20th February 2017 – On Monday 20th, Poi Pet PPSEZ Co., Ltd., a Poipet PP SEZ operator and developer wholly owned by Phnom Penh SEZ PLC. (CSX: PPSP), signed a Memorandum of Understanding (MoU) with B.Grimm Power Public Company Limited, a leading energy company in Thailand formalizing the parties’ cooperation in the development of power transmission & distribution exclusively inside new coming Poipet PP SEZ.

Under the MoU, both parties agree to conduct a feasibility study on the development, construction, ownership, operation and maintenance of power distribution system and/or power generation projects locate inside new coming Poipet PP SEZ which, once operated, shall supply power under terms and conditions of the Power Purchase Agreement (PPA) only for the customers inside Poipet PP SEZ.

The signing ceremony was attended by Chairman of Phnom Penh SEZ PLC. Lok Chumteav Oknha Lim Chhiv Ho, President of B. Grimm Power Public Company Limited Ms. Preeyanart Soontornwata, and senior managements for both parties.

B.Grimm Power Public Company Limited is a member of B. Grimm Group, which has been operating in Thailand for over 139 years, and its core business is power generation and distribution to support the power industry which is vital to industrial sector in Thailand. The competitive strengths and distinction which have been the foundation for B. Grimm Power’s sustainable and efficient growth and expansion are our high caliber management and operation teams with their diversified skills and experience which have been with the company for more than 20 years. Other contributing factors are the fact that we have our own operation and maintenance teams; the use of modern technology and high performance machines in line with international standards; the ability to ensure maximum generating and distribution capacity based on efficient power grid development and effective steam distribution system; and our focus on selling electricity to industrial customers located in close proximity to the power plants.

Amata Nakorn Industrial Estate started its development with only 49 h.a. land in 1989.  B. Grimm started its 1st power plant operation in 1995 in Amata Nakorn Industrial Estate and play an important role to help Amata Corporation PCL to become a household name for industrial estate developer. Currently, Amata Industrial Estate up to 4,120 h.a. hosting more than 500 manufacturers who produce high value-added products such as Bridgestone Tire, Colgate-Palmotive, Daikin, Denso, Hitachi Elevator, Mitsubishi Electric, Nippon Paint, Toyota, etc.

Today, B. Grimm Power operates 28 power plants, comprising 12 cogeneration combined cycle plants, 15 solar power plants and one diesel plant, producing a total of 1,626 megawatts of electricity and 350 tonnes per hour of steam. All power stations developed by the company are located in major industrial estates, including Amata Nakorn, Amata City, Bangkadi Industrial Park, Hemaraj Chonburi, Laem Chabang, where customers enjoy the advantage of lower production costs and higher reliability. The company has a strong relationship with industrial estate developers and currently serves more than 300 industrial customers.

011By 2021, the company is expected to have a total of 43 projects at a cost of some 59 billion Baht with a combined generating capacity of 2,383.3 megawatts, consisting of 2,137.5 megawatts from cogeneration combined cycle plants, 114.2 megawatts from solar power plants, 102.6 megawatts from hydropower power plants, 16.0 megawatts from wind farms and 13.0 megawatts from diesel power plant, together with 500 tonnes per hour of steam.

It intends to invest into Cambodia by starting from transmission and distribution services exclusively in Poipet PP SEZ, since Poipet has good potential to attract manufacturers who produce high value-added products from Thailand.

Located in close proximity to the Thai border with direct access to the future Asian highway No.1, Poipet PP SEZ meets the demands of higher technology manufacturers currently operating in Thailand as well as those who in the near future want to benefit from a highly strategic location in the midst of the Asean Economic Community (AEC).

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