Gulf targets more than fourfold rise in revenue by 2027

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Gulf Energy Development is targeting annual revenue of Bt150 billion to Bt170 billion by 2027, said its chief financial officer Yupapin Wangviwat.

She added that the company expected to record revenue of Bt37 billion this year.

Gulf is expected to realise revenue from its wind power project in Germany in the fourth quarter this year.

More of its power plants in Thailand and overseas are scheduled to begin feeding power to grids in 2021 and 2022.

Meanwhile, its power plant in Pluak Daeng, Rayong province, and its Hin Kong plant in Ratchaburi province are set to begin commercial operation in 2023-2024.

The company is scheduled to start realising revenue from its infrastructure projects at about the same time, including the phase 3 development of the Laem Chabang deep seaport in Chonburi.

In 2025, it also expects to realise revenue from a liquefied natural gas-fired power plant in Vietnam.

Gulf plans to invest at least Bt100 billion over the next four years, of which Bt45 billion will be spent this year.