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News 2013

Jun. 14. 2013

Marubeni Corporation

On June 13th 2013, Marubeni Corporation (hereinafter Marubeni) executed a Memorandum of Understanding

(MOU) with PTT Group subsidiary Global Power Synergy Company Limited (GPSC), to jointly develop new

IPP projects in Thailand and neighboring countries such as Laos, Myanmar and Cambodia (Target Countries).

GPSC is one of the strategic subsidiary companies of PTT Public Company Limited (PTT) which is

the largest oil and gas company listed in Security Exchange Thailand and mainly owned by PTT

(30.1%) and PTT Global Chemical Public Company Limited (30.3%). It was established in January

2013, for the purpose of consolidating the power business of PTT Group, and increasing

competitiveness of its power business. It currently owns approximately 1,040MW of IPP and

cogeneration plants, and aims to increase that number to 6,000MW by 2022, mainly in Target

Countries, as a steady economic and power demand growth is expected in the area.

Marubeni has built a close business relationship with PTT Group, mainly through trading of

petrochemical products, gas and various equipment. In power business, Marubeni was awarded as

EPC contractor for IRPC Public Companys Cogeneration project, and successfully supplied the plant

in 2011. Based on these close business relationships, and also expected synergy between the two

companies, stemming from GPSCs vast experience in Target Countries and Marubenis vast

knowledge of IPP development, both companies agreed to execute the MOU.

From now on, Marubeni and GPSC will cooperate to identify and develop good quality IPP projects,

and expand its business in the region.

Under the Global Challenge 2015 mid-term management plan, Marubeni designates IPP business

as one of the most focused businesses, and aims to increase more IPP assets by good quality

projects.

Name: Global Power Synergy Company Limited

Location:555/2 Energy Complex Building B, 14th Floor, Vibhvadi

Rangsit Road, Kwaeng Chatuchak, Khet Chatuchak, Bangkok 10900

Shareholders:

PTT Public Company Limited 30.10%

PTT Global Chemical Public Company Limited 30.31%

Thai Oil Power Company Limited 27.71%

Thai Oil Public Company Limited 11.88%

Total: 100%

Date of Establishment: January 2013

Category of Business: Power/Steam/Water Generation

Management: Mr. Jakchai Barlee(President)

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Memorandum of Understanding between Marubeni and Global Power

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