The International Engineering Public Company Limited or IEC announced its operating results for Quarter 2 2015, the Company's net profit (loss) of 15.76 million baht in the first six months and its subsidiaries' net income (loss) amounted to 39.59 million baht, up from the year 2014.
Performance in the 2nd quarter of 2015 is lower than anticipated due to;
1) IEC has improved MSW power projects at Hatyai, Songkhla province By now, the capacity of 4 MW has been generating. Within two months the project will be able to increase the capacity by up to 6 MW.
2) The biomass power plant project in Sakaeo province partly suspended its operations to improve operational efficiency. However, IEC has new projects that are expected to invest, for instance, another Biomass power plant in Sakaeo province with capacity of 8 MW (this is the 2nd biomass power project). Currently, IEC is negotiating for a power purchase agreement with the Provincial Electricity Authority (PEA).
Also, the Waste Plastic Recycling (plastic pellets from plastic waste) will be launched commercially in September 2015, which this project derives from the updated strategic plan, which substitutes the proposal of purchasing electricity renewable energy Feed in Tariff (FiT) that is remain unclear.
Source: IEC investor relations