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Marubeni is awarded a Contract for Construction of Co-generation Power Plant from an IPP in Thailand

The consortium of Marubeni Corporation (“Marubeni”) and Black & Veatch (“B&V”) has been awarded a contract for Construction of a 380MWe gas-fired Co-generation Power Plant from Glow Energy Plc (“Glow”), who is one of the biggest Independent Power Producers (IPP) in Thailand. The Contract Price is equivalent to approximately JPY 33 billion and the plant is expected to be commissioned by September 2011. Marubeni is responsible for procurement of main equipment of the plant such as Gas Turbine Generator and Steam Turbine Generator from Siemens, as well as overall civil and installation works. The main off-taker of the electricity and steam to be produced by the Plant will be the industrial estate located in Map Ta Phut, Rayong, Thailand.

The plant is located in the Map Ta Phut Industrial Estate, an area which is governed by one of the most stringent environmental regulations in Thailand. In order to successfully promote this project, Glow has allocated additional funds to reduce emissions from the existing facilities, and achieve overall reduction equivalent to 125% of the expected emission from their new plant. Such efforts to increase power & steam production capacity while mitigating overall impact on the environment was also positively recognized by the Ministry of Natural Resources and Environment, and as a result the project was granted EIA approval despite being located in an area which is controlled by one of the most stringent environmental regulations in Thailand.

This is the 5th phase of Glow’s power plant construction project in the above mentioned industrial estate. Marubeni has successfully completed the contracts for Phase-3 (550MW, approximately JPY 50 billion) in 1996, and Phase-4 (76MW, approximately JPY 6 billion) in 2003 and 2004 respectively.

Marubeni was also awarded large Combined Cycle Power Plant projects by the Electricity Generating Authority of Thailand (EGAT) in both 2005 and 2006, and will continue to focus on new projects that will contribute to the development of Thailand’s power sector.

Marubeni Completes Acquisition of The PIC Group, Inc.

Marubeni Corporation (Marubeni) is pleased to announce that it has successfully completed the acquisition of 100% equity shares of The PIC Group, Inc.(“PIC”), based in Georgia, USA .

Founded in March 1988 with its corporate headquarters in Marietta (Atlanta), Georgia, PIC is an independent global provider of services and programs focused on Power Generation and other industrial facilities. PIC’s services span the entire project life cycle with particular emphasis on Field Service Maintenance & Repair, specialty boiler and turbine installations, turnkey Start-up & Commissioning, and complete O&M services including technical documentation & training. PIC operates offices in North America, Europe, South East Asia, and South America and proudly delivers services to a variety of customers including major power utilities and Original Equipment Manufacturers (OEMs) alike.

Marubeni and PIC began their formal relationship through the formation of a joint venture company called PIC-Marubeni Energy Group LLC (“PMEG”) in 2005 to capitalize on the O&M market as a first step, and now Marubeni has decided to increase its focus on power after-market services in addition to its current core businesses; EPC and IPP. Marubeni believes that expansion of its core businesses and value chain can provide a full range of competitive services to meet every customer’s demands.

PIC’s experiences and capabilities can provide a variety of services to meet US market demand where the existing generation facilities are aging and utilities and IPPs are planning to build new power stations. Marubeni has supplied approximately 77,800 MW as EPC contractor in the aggregate, and owns IPP assets of approximately 6,600 MW (Net Capacity) throughout the world. Marubeni believes that the Marubeni/PIC combination can provide a broader range of services and allow for the pursuit of power business more actively through a world-wide sales network.

Name :The PIC Group Inc.
Address :1165 Northchase Parkway, Marietta (Atlanta), Georgia
Foundation:March 11th, 1988