NNCL eyes power plant

60MW facility to serve local industrial zone

SET-listed industrial land developer Nava Nakorn Plc (NNCL) plans to construct a gas-fired co-generation power plant in phase two with a capacity of 60 megawatts in the third quarter this year.

Nipit Arunvongse Na Ayudhya, the managing director, said the second phase is valued at 3 billion baht and NNCL expects it to be completed in 2019.

The new power plant aims to serve manufacturers in the Navanakorn Industrial Zone in Pathum Thani.

“Power demand in the industrial zone totals 400MW from 200 companies on a plot of 6,500 rai,” Mr Nipit said.

The first phase of NNCL’s gas-fired co-generation power plant has a total capacity of 125MW, but it sells 90MW to the Electricity Generating Authority of Thailand while the remaining 35MW is supplied to the industrial zone.

The power plant is operated by Nava Nakorn Electricity Generating Co, which is a joint venture of NNCL, Ratchaburi Holding Plc and Global Power Synergy Plc (GPSC).

Ratch owns a 40% majority stake, while NNCL and GPSC hold shares of 30% each.

Mr Nipit said the company plans to invest in new projects such as a data centre in the industrial zone in Pathum Thani.

“NNCL is conducting a feasibility study for the data centre, which is set to serve customers in the industrial zone in line with the Thailand 4.0 initiative,” he said.

The company plans to talk with other firms that are interested in joining in the data centre project in the second quarter, and it expects to conclude an investment budget soon.

Navanakorn Industrial Zone has two locations, in Pathum Thani and Nakhon Ratchasima, with both local and foreign companies.

Mr Nipit said NNCL has 800 rai of developed land for sale in Nakhon Ratchasima, with 100 rai divided for use as residential and commercial projects.

NNCL has a total of 2,000 rai in Nakhon Ratchasima, with most investors Chinese companies operating factories for food products, processed food products and electronic parts.

In Pathum Thani, NNCL has allocated 200 rai for the residential and commercial projects.

Last year, NNCL posted revenue of 816 million baht, up 4% from the year before, with net profit of 244 million, leaping 52.5%.

NNCL shares closed Thursday on the Stock Exchange of Thailand at 1.67 baht, up one satang, in trade worth 2.7 million baht.