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

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.

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