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Keppel subsidiary spends $311k to increase stake in Thailand district cooling system project

Lim Hui Jie
Lim Hui Jie • 2 min read
Keppel subsidiary spends $311k to increase stake in Thailand district cooling system project
Keppel announced that it increased its stake from 26% to 42% by acquiring a 16% stake in the joint venture. Photo: Keppel Corp
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A subsidiary of Keppel Corp has spent about THB8 million ($311,000) to increase its stake in a THB7.5 billion district cooling system (DCS) project in Bangkok, Thailand.

This was done through Keppel DHCS, which is a wholly-owned subsidiary of Keppel Infrastructure. Keppel Infrastructure is in turn, a wholly-owned subsidiary of Keppel Corp.

In 2020, a consortium comprising Thai renewable energy company BCPG, Keppel DHCS, and Thai engineering consultancy TEAM Consulting Engineering and Management were awarded a contract by the Property Management of Chulalongkorn University (PMCU) for the DCS project, worth more than THB 7.5 billion ($329 million at the time).

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