GE Service Agreement to Ensure Long-Term Reliability of Gas Turbines at PTT Utility Plant in Thailand |
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GE Co.
25925 Telegraph Dr.
Southfield, MI, 48034
USA
Press release date: July 12, 2011
o 13-Year Contract Valued at More Than $40 Million
o Predictable Maintenance Costs and Performance Guarantees Among Key Features of the Agreement
o Eight GE Frame 6B Gas Turbines Generating 300 Megawatts for Industrial Use
BANGKOK, THAILAND - PTT Utility Company Limited, which generates electrical power and steam for Thailand's industrial sector, has signed a long-term service agreement with GE (NYSE: GE) valued at more than $40 million. The 13-year contractual service agreement (CSA) includes power output efficiency, reliability and performance guarantees for eight GE Frame 6B gas turbines at PTT Utility's power generation plants at Map Ta Phut Industrial Estate in Rayong, Thailand.
The gas turbines are generating more than 300 megawatts of power and 1,200 tons per hour of steam for the petrochemical industry in Thailand, which is enough electricity for more than 15 petrochemical plants with high efficiency, reliability and performance of supply. PTT Utility is a subsidiary of PTT Plc., the national oil and gas company of Thailand.
"GE will help PTT Utility effectively manage its gas turbine services budget while maintaining the plant's high reliability and performance," said Kovit Kantapasara, country executive, GE Energy, Thailand and Indochina. "Our service agreement includes reliability and output/heat rate degradation guarantees, to ensure that the plant continues to meet its production targets."
GE CSAs typically cover the supply of parts, repairs and field services for planned and unplanned outages for gas turbine-generators and accessory equipment, along with performance guarantees. Additionally, degradation guarantees help ensure predictive performance with power output and fuel efficiency over time, given conditions including climate changes, fuel sources and parts wear. GE's long-term service agreements are structured to provide customers with predictable maintenance costs. To date, GE has long-term service agreements including CSAs in place at more than 700 sites worldwide.
The CSA with PTT Utility follows a 13-year service agreement GE signed last year with PTT Chemical Public Company Limited, to ensure the long-term reliability of nine GE gas turbines at PTT Chemical's site, also located in Map Ta Phut Industrial Estate.
Map Ta Phut Industrial Estate was established in 1988, as part of the government's policy to develop Thailand's eastern seaboard. Currently, the estate serves as a significant manufacturing base for the petrochemical, chemical and iron and metal sectors, as well as refineries.
About GE
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy-GE Power & Water, GE Energy Services and GE Oil & Gas-work together with more than 90,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.
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