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19 December 2006 -- Mitsubishi Heavy Industries, Ltd. (MHI) recently announced that it has established a marketing and information-gathering base in Thailand in a quest to attract expanded orders overseas for its gas turbine combined-cycle (GTCC) plants and other power generation equipment.
The new company, Mitsubishi Power Systems Ltd. (MPS-T), began full-scale operations on December 1, 2006. MHI said in a press release that it aims to further its activities in Thailand and neighboring countries, where large increases in power demand are expected.
The new company was established by Mitsubishi Power Systems Pte. Ltd. (48%), MHI (1%) and Thai local companies (51%). Electricity demand is expected to increase sharply in Thailand on the back of that country's economic growth in recent years. In response, power plant construction projects are being planned in significant numbers. Plans call for approximately 10,000 MW power generation capacity to be added between 2011 and 2015.
Under Thai government policy, the country's electricity market is to be further liberalized and many independent power producers (IPP) are expected to enter the market, rivaling existing utility companies.
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