Please call us Egco and not Egcomp
Electricity Generating, Thailand's first independent power producer, is changing its trading symbol from Egcomp to Egco to increase its effectiveness in brand communication at a time when it is seeking to expand its investment in the local power industry.
The new symbol will be in use tomorrow, a day before the company celebrates its 15th anniversary. Egcomp has been the trading symbol since its inception, but the company is better known as Egco among the public. Egco president Visit Akaravinak said the company would spend more than Bt100 million on the rebranding campaign, which aims to differentiate the Egco group from its competitors by highlighting the synergy of affiliated companies in the group. Part of the budget will go to internal communications. Representatives from all affiliate companies will be appointed as brand ambassadors to communicate the corporate rebranding campaign and as project leaders for HR programmes. The company will produce a video and other media to communicate the new brand vision to all employees. It will spend the remaining budget to raise the public's awareness about the group's business through television, radio and print media in the second half of the year, Visit said. Assisting the move to reach out to the public is a new campaign called "Energy for Life", which will inform local communities about the group's care for the environment and local quality of life. Combined with the rebranding is an aggressive investment plan. Visit said the company would revise its investment plan from Bt11 billion to Bt16 billion this year, to prepare for bidding in the second-round independent power producer scheme. Half of the investment will come from cash flow and the rest from financing. Egco plans to bid for two gas power plants with a total production capacity of 1,600 megawatts. Moreover, it is looking for a partner if it wins the contracts to produce more than 30 per cent of the proposed capacity. It also plans to purchase a portion of a 200MW power plant in the Philippines. "We have to spend around US$100 million [Bt3.47 billion] if we want to hold half of the total shares," Visit added. Meanwhile, he said Egco is cooperating with PTT in reducing nitrogen-oxide emissions from its power plant in Rayong. It expects to spend about Bt100 million on emission reduction. He said the company targeted higher revenue growth than last year thanks to revenue recognition from the BLCP plant and Kaeng Khoi 2.
Chalida Ekvitthayavechnukul The Nation
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