PTG by “PPP Green Complex” launches palm complex worth 4,800 Million Baht to raise the standard of palm oil industry in Thailand to the world standard.

SET Award is speechless that “Pitak” receives the CEO Award for 2 consecutive years guarantee his professional management.

PTG Energy Public Company Limited (PTG), a fully integrated Thai oil operator, is held to the principles of business development to be the one for people in Thailand. Based on this vision, PTG has analyzed the Pre-commissioning Project. This is the first integrated palm oil production in Thailand.

Mr. Pitak Ratchakitprakarn, Chief Executive Officer and President of PTG Energy Public Company Limited and the winner of the Best CEO Award, said the Company is currently testing biodiesel and palm oil production for consumption by the end of 2017.

“The Palm Complex Project is operated by PPP Green Complex Co., Ltd., a joint venture between PTG Energy Plc. (PTG) and 2 other partners with long experience in the palm oil business more than 20 years. The investment value is 4,800 Million Baht. This project is located in Bang Saphan Noi District, Prachuap Khiri Khan Province.”

Chief Executive Officer and President of PTG further revealed that the production of palm oil is relatively low in January. However, palm production will increase during March – May; as a result, prices will be decreased. Therefore, to accommodate the price fluctuation of palm fruit in some periods, the Company has set up a warehouse to store raw materials during the low price of palm fruit. It will be pressed and kept in a warehouse. At present, the warehouse construction is completed with the potential to keep 500,000 tons which can reduce the fluctuation of production costs.

The project can produce 450,000 liters of biodiesel per day and palm oil for consumption of 200,000 liters per day. It must be admitted that palm production is quite fluctuated. The B100 price is quite difficult to estimate. There are many issues involved such as the price of palm bunch and the production capacity.

The Palm Complex project consists of crude palm oil refinery, palm oil refinery, and biodiesel plant (B100) with a total capacity of 900,000 liters.

Mr. Pitak emphasized that this palm oil project is the first fully integrated and the most modern plant in Thailand. It’s not just about the energy business, it is a project created by the Royal Initiative in the field of renewable energy for sustainable energy use of Thai people and supporting palm oil farmers. It also enhances the capabilities of the palm oil industry in Thailand to equal regional and global levels.

With the professional management of Mr. Pitak Ratchakitprakarn, Chief Executive Officer and President of PTG Energy Public Company Limited, he has received the Best CEO Award 2017.

Such award is granted to top executives of listed companies in the Stock Exchange of Thailand. It was the first time that the SET Awards had been awarded the Best CEO Award to the same person for 2 consecutive years. This indicates a vision for strategic planning, commitment to continuous work, including the ability to manage outstanding and quality organization. This makes the Company grow stronger.