PTG Expects “Palm Complex” Income of ฿6Bn, Targeting to List “PPPGC” on SET in 2022

PTG is expected to book higher profit sharing from “Palm Complex” as the project had a full-year operation this year with an estimated revenue in 2020 around 5,000-6,000 million baht. The company is expecting to list PPP Green Complex (PPPGC) in the Thai stock market.

 

Mr. Chalong Tiratraipusit, Executive of Corporate Communication of PTG Energy Public Company Limited (PTG), revealed the Company’s expenses in 2020 are likely to decrease due to the “Palm Complex”, in which PTG owns 40% of total shares, having a full-year operation this year.

 

Mr. Chaithat Wanchai, Chief Executive Officer of PPP Green Complex Company Limited (PPPGC), the operator of Palm Complex project said that the Company expected an income of 5,000-6,000 million baht this year from the Palm Complex as the project has already started its production since May 2020. 

 

Moreover, PPPGC also benefited from the government’s policy to promote B10 biodiesel as standard for domestic consumption.

 

PTTGC’s main revenues are from biodiesel (B100) account for 77% of total revenue, 13% from palm olein and 10% from glycerine and other products. 

 

The Palm Complex project consists of a crude palm oil refinery with a capacity up to 1,800 tons per day, palm oil refinery, and biodiesel plant (B100), including the biodiesel B10 refinery with the potential to up to 500,000 tons per day and contributes to Thai Oil Public Company Limited (TOP), IRPC Public Company Limited (IRPC), Esso (Thailand) Public Company Limited (ESSO), etc.