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GE plans 20 billion dollar investment in Thailand and other countries in the region |
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Saturday, 28 June 2008 |
General Electic have been marked Thailand and other countries in Southeast Asia to target investment of 20 billion dollars for the expansion of its global portfolio of energy projects in the period 2008-2010 on reported Bangkok Post.
Division of GE, GE Infrastructure, whose earnings are expected to reach 70 billion dollars in 2008, has opened an office in Singapore, to investigate business opportunities in Southeast Asia. Its activities include energy, aviation, transportation, water treatment technologies and technologies for extraction and processing of oil and gas.
Infrastructure activity in the Association of the Southeast Asia (ASEA), represents 40% of the total revenue of GE.
ASEA still needs key infrastructure as energy generators, aviation and financial services, said John Rice, vice president of GE and CEO of GE Infrastructure.
 The company is looking for investment opportunities, such as groups to acquire or establish a partnership with them, Rice said.
"There are a number of projects around Thailand, which investigating. The country is on track to increase the power generated energy that will serve the demand of energy for the next ten years."
As to the exact volume of investments for the countries of Southeast Asia, Rice explains that this will depend on business opportunities.
For three years the company has increased its investment portfolio by 30% to meet the growing demand for energy by the end of 2010, adding that the target projects cover energy generation, renewable energy and building pipelines.
Regarding the transport sector, by GE liaise with the State Railways of Thailand and the authorities for urban mass rapid transport.
Of the total revenue of GE Infrastructure worth 57.9 billion dollars in 2007, almost 5 billion dollars were generated in the region of Asia and the Pacific.
The group expect revenue to increase by 15-20% this year.The market in Asia and the Pacific is the fastest developed market for GE Infrastructure, as growth in each sector of activity is two, says Rice.
GE Infrastructure is responsible for about 40% of the proceeds of the parent company in 2007 Orders for equipment grew by nearly 40% on an annual basis for the past three years. |
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