Thai state-owned PTT keen to invest $11.7 billion in new businesses

[snoop1130]

Thai state-owned PTT keen to invest $11.7 billion in new businesses

Reuters Staff

 

The logo of PTT is pictured at the 38th Bangkok International Motor Show in Bangkok, Thailand March 28, 2017. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand’s state-owned energy group PTT Pcl (PTT.BK) said on Wednesday it was keen to invest 390 billion baht (£9.21 billion) in business opportunities, as it seeks to be a bigger player in the government’s new policy to boost trade and growth.

 

PTT’s group of companies have the cash to invest in businesses in the “new S-curve”, Chief Executive Officer Tevin Vongvanich said at a news conference, referring to the Thai government’s policy to promote industries including aviation, logistics and robotics.

 

The Thai government has been seeking private sector investment in infrastructure projects.

 

The energy giant is in discussion with partners and weighing the possibility of bidding in a high-speed rail project, which will take place in November, Chief Technology Officer Chansin Treenuchagron said.

 

Construction and engineering firms have shown interest in the $7.2 billion high-speed rail project, which will connect three airports in Thailand.

 

PTT’s latest major investment was through its energy unit, Global Power Synergy Pcl (GPSC.BK), which bought Glow Energy Pcl (GLOW.BK) from France’s Engie (ENGIE.PA) for $4 billion in June this year.

 

-- © Copyright Reuters 2018-8-15

[Lungstib]

As the Wall Street Journal pointed out 4 years ago on the subject of state owned companies:

  "Politicians have fought to control these companies, whose revenues are a source of financing for government projects. Analysts said it is common for administrations in Thailand, whether military or civilian, to put allies in charge either as a reward for loyalty or as a way to exert control over spending."

This where the money is made and this is where ex-military officers find comfortable directorships.

[hotchilli]

How about investing in "electronic recharging points" so the Thai populous has the option of going green>>

as Thailand is so interested in climate change!!!

[Cake Monster]

It sure as hell would not go amiss if PTT invested some money in a few Trash Cars and an Incinerator that is fueled by the trash they collect.