B Grimm to build power plants in Thailand, Vietnam, Malaysia

B Grimm is targeting a Bt23.5 billion revenue by focusing on building power plants in the Asean.

The company sells its electricity from its small power plants (SPPs) to 200 manufacturing plants in Thailand and Vietnam. This business generated Bt8.88 billion, or about 48 percent of its total revenue last year. This year, the company targets revenue from this business of about Bt12.84 billion, or 54 per cent of the total target of Bt23.5 billion, he said.

The group's chairman Harald Link said it sees opportunities in building more power plants in Thailand, Vietnam, Malaysia, Singapore and Myanmar.

In Thailand, B Grimm has set a 2012-19 investment budget of Bt70 billion to build 12 small power plant projects with combined production capacity of 2,000 megawatts.

Two of the 12 projects are under construction at Amata City in Rayong province, and two will be in Bangkadi Industrial Estate in Pathum Thani province. The remaining eight projects will be developed in the next phase.

"All of our SPP projects will provide electricity to the companies in the industrial estates better than the IPP [independent power producer] projects," he said.

Aside from the SPPs, which use natural gas, the company is interested in using alternative energy such as wind, solar and water to produce electricity in the future.

Link said the company was negotiating with its strategic partner in Malaysia to develop a wind-power plant with a production capacity 40MW in that country. That deal will be finalised this year.

B Grimm was established locally in 1878, originally as a pharmaceutical business. Today, the company's business interests include power plants, air-conditioners, health and engineering.

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