BCPG Public Company Limited (BCPG) announced the Company has successful set up a joint venture company namely, Chula District Cooling Company Limited, with 2 investors i.e. (1) Team Consulting Engineering and Management Public Company Limited (TEAMG) and (2) Keppel DHCS Pte. Ltd. to enter into a District Cooling Project Agreement of Commercial Area in Suanluang – Samyan with Chulalongkorn University. Currently, the Joint Venture Company has the registered capital of THB 50,000,000 with 500,000 shares having a par value of THB 100 per share.
The shareholding in the Joint Venture Company divided to 60% held by BCPG, 26% held by Keppel DHCS Pte. Ltd., and 14% held by TEAMG. By having the Company holding 60% of all shares, the newly incorporated Joint Venture Company will be BCPG’s subsidiary.
The Joint Venture Company has the objective to operate the business of installing and managing the District Cooling system for the distribution of chilled water in the commercial area of Suanluang – Samyan to buildings in such areas of Chulalongkorn University. The source of funds will be cash flow from the operation and loan from financial institutions.
In this regard, on December 28, 2020, the Joint Venture Company has already entered into the District Cooling Project Agreement with Chulalongkorn University.