According to 2019 Annual General Meeting of Shareholders’ approval on April 1, 2019 regarding the investment in the Energy Recovery Unit Project (ERU) through the acquisition of the Energy Recovery Unit, which is part of the Clean Fuel Project (CFP) of Thai Oil Public Company Limited (SET: TOP).
In addition, TOP reported to the Stock Exchange of Thailand (SET) on December 20, 2024 regarding the resolution of the Board of Directors meeting on the increase of the CFP’s investment cost and its expected completion.
Due to this regard, GPSC has disclosed a statement through the stock exchange to inform that the increase of TOP’s CFP investment cost including ERU has no impact on the company’s investment return under the agreements with respect to the ERU. The transfer of ownership of the ERU will occur upon the completion of the construction and the Provisional Acceptance Certificate (PAC) has been obtained, tentatively around the first quarter of 2029. However, the company is under discussion with TOP and will further proceed in accordance with the criteria of the SET Notification concerning Connected Party Transactions and/or related regulations.
