WHAUP continues demineralized water project to drive revenue growth; Contract signed with GPSC Phase 2 to double service income

Stocks and Financial Services Press Releases Monday October 26, 2020 11:18
Bangkok--26 Oct--MEDIA PLANNER CONSULTANT

WHA Utilities and Power Plc (WHAUP) moves forward to provide demineralized and clarified water services, after securing a 15-year contract to sell demineralized water to Global Power Synergy Plc Phase 2. With commercial operations expected to start in December, the additional 1.6 million cubic meters per year is more than double the total in Phase 1. CEO Dr. Niphon Bundechnan says this new project is part of the company’s value-added development plan, which sets a 5-year goal to provide demineralized water of over 25 million cubic meters per year.

Dr. Niphon Bundechanan, Chief Executive Officer of WHA Utilities and Power Plc (WHAUP), reveals that the utilities business outlook for the second half of 2020 is expected an improvement driven by an improved drought situation and the gradual resumption to normal operation. Moreover, the new demand of key manufacturers will drive water consumption, especially in the power and petrochemical sectors. For example, GULF SRC in WHA Eastern Seaboard Industrial Estate 1 with contracted power generation capacity of 2,500 megawatts is expected to consume a maximum of 18 million cubic meters per year of water when all of its units reach commercial operation within 2022, while petrochemical producer Aditya Birla Chemicals (Thailand) Limited, located in WHA Eastern Industrial Estate (Map Ta Phut), is evaluating future expansion its production and expects to consume over 6 million cubic meters per year.

Recently, WHA Water Co, a subsidiary of WHAUP, signed a new 15-year agreement with Global Power Synergy Plc (GPSC) to sell an additional 1.6 million cubic meters of demineralized water per year. Phase 2 of the agreement is valued at 1 billion baht and is planned tostart COD in December 2020 respectively. It will raise WHAUP’s total service capacity of demineralized water to GPSC at a total of 3.1 million cubic meters per year.

Earlier this year, WHAUP also finalized a 15-year contract to sell 1.9 million cubic meters per year of premium clarified water to Gulf Energy Development Plc (GULF), a leading energy producer in Thailand.

"Premium clarified water is one of our value added products for industrial customers, particularly thosein WHA Group’s industrial estates. This Premium clarified water is an alternative for industrial operators who want to use quality water for production purposes. This latest addition reflects the company’s determination to become an integrated utilities service provider," explained Dr Niphon.


Latest Press Release

Bangkok Bank joins Hua Seng Heng to launch real-time online gold trade for the first time in Thailand

Bangkok Bank joins Hua Seng Heng to offer opportunities to investors to buy and sell gold at real-time global market prices in USD on the Hua Seng Heng USD Gold Trade platform via Foreign Currency Deposit Account: FCD for Bangkok Bank customers for the...

กรุงไทยครองตำแหน่ง Bank of the Year 2020 in Thailand จาก The Banker ตอกย้ำผู้นำ Digital Banking เคียงข้างคนไทยในทุกมิติ

ธนาคารกรุงไทยตอกย้ำความเป็นธนาคารชั้นนำ คว้ารางวัล Bank of the Year 2020 in Thailand จากนิตยสาร The Banker เป็นครั้งที่ 3 และรางวัล Best Social Impact Bank -Thailand 2020 จากวารสาร Capital Finance International (CFI) ต่อเนื่องเป็นปีที่ 4...

Kasikornbank launches PossAbility Acceleration to drive itself into an innovative organization That employees take care of for actual use

KASIKORNBANK (KBank) has launched the PossAbility Acceleration program to encourage its employees nationwide to compete with their creative ideas underthe aim of becoming an innovative organization. The most innovative ideas have been incubated, set...

SET rolls out 5th year of "INVESTORY Mobile Exhibition on Schools" series for youths in 10 more provinces

The Stock Exchange of Thailand (SET) has cultivated savings discipline and promoted financial planning literacy through "INVESTORY Mobile Exhibition on Schools" which has been held for a 5th consecutive year in 10 provinces, recreating SET's INVESTORY...

SCB teams up with Lightnet to offer cross-border fund transfer from South Korea to Thailand

As a digital banking leader, Siam Commercial Bank (SCB) never stops developing its financial technology capabilities, and in a recent move SCB has announced a new business partnership with the Lightnet Group, a fintech startup offering financial services...

Related Topics