PTT Public Company Limited (PTT) announceก that PTT’s Board of Directors at the meeting on 17 June 2021 passed the resolution to approve Siam Management Holding Co., Ltd. (SMH) (PTT’s 100% owned subsidiary) to establish PTT and TGES Optec Company Limited (Optec), a new joint investment with Tokyo Gas Engineering Solutions Corporation (TGES) (a 100% owned subsidiary of Tokyo Gas Co., Ltd.) with the registered capital not in excess of Baht 60 million.
SMH and TGES will hold 51% and 49% shareholdings, respectively in this joint investment. The Joint Venture Agreement has already been signed on 5 October2021. The investment objective aims to provide One-stop Total Improving Efficiency Technology Solutions and Services for Machinery and Equipment including fuel supply to the customers in industrial, power, and utilities sectors.
The company is expected to complete its registration by the fourth quarter of 2021 and to start operating within the first quarter of 2022.