Tokyo Gas Engineering Solutions, Thailand's PTT TO set up JV

Economy

Tokyo Gas Engineering Solutions Corp. and a subsidiary of state-owned Thai energy group PTT Public Co. will set up a joint venture to enter the on-site energy business involving liquefied natural gas supply in Thailand. The wholly owned unit of Japanese utility Tokyo Gas Co. said it has agreed with Siam Management Holdings Co. to form the venture, PTT & TGES Optec Co., in Bangkok in November with the start of operations planned for the January-March quarter of next year. Capitalized at 60 million baht ($1.8 million), the new firm will be owned 51 percent by Siam Management Holdings and 49 perc...

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