Thai Tap Water Supply plans to raise the proportion of its revenue from other businesses from 10 per cent to 35 per cent in five years to reduce risk.
The fully integrated tap-water supplier wants to diversify into the environment-friendly wind, solar and hydro energy businesses as well as water and garbage management and disposal.
Chaiwat Utaiwan, who took over as managing director on Saturday, said yesterday that he was ready to take on the challenges of the tap-water business where demand is directly driven by economic and industrial expansion.
TTW has the financial capacity to support its investment and growth plans, including in Myanmar’s fourth-largest city, Mawlamyine, he said.
TTW has increased tap-water production capacity in Samut Sakon and Nakhon Pathom by 100,000 cubic metres a day from 440,000, and at its Pathum Thani plant by 60,000 cubic metres a day from 388,000.
First foreign project
It has allocated a budget of about Bt250 million to Bt300 million for its first ever project in a foreign country. It is now conducting a feasibility study on entering the tap-water business in Myanmar with a local partner. The situation is expected to become clearer in the second and third quarters.
It is also studying the feasibility of a wind-energy project in Thailand but this will be time-consuming, as wind velocity would have to be measured.
It has no plan for a solar farm as it has to wait for clearer policies from the next government.
A shareholders meeting on Friday approved the changes in the company’s name to TTW Plc and in its logo to fit with its five-year business plan, which will involve moving
into more alternative energy and environmentally friendly businesses.