Sojitz Invests in TTCL, an Engineering Company Listed on the Stock Exchange of Thailand
Aug. 21, 2018
Through a third-party allocation of shares, Sojitz Corporation (“Sojitz”) has acquired 56 million shares of TTCL Public Company Ltd. (“TTCL"), an engineering company listed on the Stock Exchange of Thailand. This acquisition is equivalent to 10% shares issued prior to this acquisition.
TTCL is the first integrated Engineering, Procurement and Construction (Integrated EPC) company in Thailand, incorporated in 1985. TTCL has extensive experience and expertise in EPC for turnkey projects for industrial and process plants, mainly in energy, petrochemical, chemical and power industries.
The Company’s competitive advantages in terms of cost and specialized engineering teams, which comprise of more than 2,000 engineers, has allowed the company to operate mega projects with high complex technologies and enable TTCL to expand its international businesses to overseas markets, particularly ASEAN. In addition to the EPC business, TTCL has already developed and invested in power plant business, especially in Myanmar, where opportunities and growth in power sector are persistently high for the company.
Sojitz Group, on the other hand, has received several orders for plants, petrochemical/ fertilizer plants, and power plants primarily in the Russia/NIS and Asia regions, as part of a consortium formed with engineering companies both inside and outside Japan.
By underwriting this investment in TTCL, Sojitz will join its project development and financing functions with TTCL’s technical prowess and engineering skills. In this way, the companies hope to contribute to the development of greater Asia, while meeting the region’s flourishing demand for gas-to-power and other infrastructure.
Company Overview - TTCL Public Company Limited
|Head Office||159/41-44 Sermmit Tower, 27th-30th Floor, Sukhumvit 21(Asoke) Road, North Klongtoey, Wattana, Bangkok, Thailand|
|Representative Director||Hironobu Iriya|
|Sales||JPY 36.5 billion (for the year ended December 31st, 2017)|
|Stock Listing||Stock Exchange of Thailand|
|Main Business||EPC and power plant business|