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Sep. 18, 2007
Sumitomo Corporation

Acquisition of 30% shares in Amata Power Limited by Sumitomo Corporation

Sumitomo Corporation (head office: Chuo-ku, Tokyo; President and CEO Susumu Kato; hereinafter referred to as "SC") has acquired 30% of shares in Amata Power Limited ( hereinafter referred to as "APL"), who owns and operates 3 power plants in Thailand and Vietnam. SC and Sumitomo Corporation Thailand Limited, a 100% owned subsidiary of SC, have jointly established a new subsidiary in Thailand, named Summit Sunrise Energy Co., Ltd ("SSEC"), and SSEC will own the shares in APL.

APL currently owns and operates 3 power plants (APL's portion in total capacity of 3 power plants is approximately 240MW) and 1 operating company, all of which are located within industrial parks in Thailand and Vietnam owned by Amata Corporation, one of the largest industrial park developers in Thailand, where a number of Japanese manufacturers have factories. The majority of APL's generating capacity sources from 2 power plants in Thailand each of which has a long-term fuel supply contract with PTT and power purchase agreements with EGAT and manufacturers within the industrial parks. This is the first opportunity for SC to enter the power retail business abroad.

SC is aggressively expanding its investment in overseas electric power project using the expertise acquired through power plant EPC, and has a retained power generation capacity of around 2,800MW. Investment interest in Asia is held in Japan, Indonesia, Philippines, Thailand, Vietnam, and Taiwan. Given the recent economic growth in Thailand, Thai government has been discussing the procurement of additional power supply from IPPs and SPPs, and officially announced on June 29th the opening of its second solicitation for proposal from IPPs for the supply of capacity and energy to EGAT. In addition to the EPC business, including the 700MW North Bangkok combined cycle power plant for EGAT, which SC started its contract execution in March 2007, by acquiring APL's share and strong tie with a local partner, SC aims to expand its business in the Thai power sector. With the acquisition of the 30% concession in APL, Sumitomo's retained power generation capacity overseas will expand to about 2,900 MW.

[Summary of APL]
1. Shareholdings
(1) B.Grimm Group (*1) :
(2) SC :
56%
30%
(3) Amata Corporation(*2) : 14%
(*1) A conglomerate which has engaged in various business in Thailand including telecommunication, transportation and electricity. Entered into power business in 1995.

(*2) One of the largest industrial park developers in Thailand. Listed in SET.
2. APL's Asset [1] Amata-EGCO Power Limited(Thailand / 165MW / APL's share: 70%)
[2] Amata-Power(Bangpakong) Limited(Thailand / 167MW / APL's share: 70%)
[3] Amata Power (Bien Hoa) Limited(Vietnam / 13MW / APL's share : 60%)
[4] Amata Power-ESCO Service Co., Ltd(Thailand / O&M Company / APL's share : 50%)


Inquiries

Corporate Communications Department,
Sumitomo Corporation

TEL:+81-3-5166-3100News Release Contact Form

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