TWZ CORPORATION Plc has set aside Bt500 million to invest in 10 megawatts of solar farms in Khon Kaen and Buri Ram by collaborating with the Khon Kaen Agricultural Cooperative and Buri Ram Fisher Cooperative.
According to the company, its subsidiary Gear Corporation Co will buy a major stake in Beam Corporation Co and Shin Energy Co, who support solar farms of Khon Kaen Agricultural Cooperative and Buri Ram Fisher Cooperative respectively, chief executive officer Piyanuj Rungkasiri said yesterday.
The investment in the solar farms is part of its expansion into alternative energy to sustain its income.
The company is also expanding in real estate by developing a Bt500-million condominium called Pazer Pattaya. It will be booked as revenue at the end of this year, she said.
In the telecom business, the company has continued to develop its products to serve the demand of 4G customers. It is confident its total sales will record strong growth this year, she said.
TWZ Corporation earned Bt5.86 million on revenue of Bt1.07 billion in the first quarter of this year. It reported net profit of Bt99.98 million on total revenue of Bt4.24 billion last year.