SET-listed Banpu Plc, a non-oil energy conglomerate, will continue to focus on new investments under its greener and smarter strategy to drive business expansion.
The company expects to increase its investment budget for the five-year business plan (2021-2025), which covers all core businesses as the global economy is recovering.
Chief executive Somruedee Chaimongkol said she believes Banpu's businesses will continue to grow despite the impact of Covid-19.
The pandemic has not affected its business in the energy sector, which is a crucial part in driving the economy forward.
"Banpu is currently negotiating a new business deal on renewable energy development and expects to conclude the deal as soon as possible," said Mrs Somruedee.
The company has allocated an investment budget of 24.5 billion baht for 2021.
"The budget for three years [2021-2023] is set at 42.5 billion baht, but the company expects to spend more," said Mrs Somruedee.
The investment will go to projects, especially renewable energy development and energy technology.
During the first six months of 2021, Banpu saw its revenue increase by 33% year-on-year to US$1.53 billion, or approximately 47 billion baht. Its profit grew by 488% year-on-year to $93 million, or approximately 2.86 billion baht.
Strong business performance was driven by many factors, including the increase in coal and natural gas prices.
Banpu also continued to invest in energy businesses with strong growth potential in line with the greener and smarter strategy and focused on better cost management and production efficiency, operational resilience and agility to cope with the uncertainties of the global economy.
The company announced last month plans for a mining business to supply feedstock to technology product manufacturing.
Mrs Somruedee said earlier Banpu set up a panel to conduct a feasibility study for the new project in Australia and Indonesia where minerals have high potential to supply factories.
Details of the study, including the time frame, were not revealed. The firm said it may start with small-scale mining, covering nickel, magnesium and cobalt.
These minerals are the main feedstock for the battery production process.
