MARKET DEVELOPMENT
EGAT Signs MOU with PWO To Buy 10,000 Tons of Crude Palm Oil for Alternative Energy
EGAT Signs MOU with PWO To Buy 10,000 Tons of Crude Palm Oil for Alternative Energy
06/08/2013 (NNT) – A memorandum of understanding (MOU) has been inked between the Public Warehouse Organization (PWO) and the Electricity Generating Authority of Thailand (EGAT) on the trade of 10,000 tons of crude palm oil for alternative energy generation.
Minister of Commerce Niwatthamrong Boonsongpaisan, together with Energy Minister Pongsak Raktapongpaisan and Deputy Commerce Minister Yanyong Phuangrach, witnessed the signing of the MOU between the PWO and EGAT.
According to the agreement, the PWO will deliver 10,000 tons of crude palm oil to EGAT at the price of 25,000 baht per ton. The delivery will commence in August and continue until December 2013. The palm oil will be combined with the fuel oil that EGAT currently uses to create alternative energy. Experimentation with the fuel will be conducted at a powerhouse in Krabi province.
If the tests prove to be successful, the project will be expanded to other powerhouses throughout the country which will help release oil palm produce from the stockpile and maintain its price at a suitable level.
Minister of Commerce Niwatthamrong Boonsongpaisan, together with Energy Minister Pongsak Raktapongpaisan and Deputy Commerce Minister Yanyong Phuangrach, witnessed the signing of the MOU between the PWO and EGAT.
According to the agreement, the PWO will deliver 10,000 tons of crude palm oil to EGAT at the price of 25,000 baht per ton. The delivery will commence in August and continue until December 2013. The palm oil will be combined with the fuel oil that EGAT currently uses to create alternative energy. Experimentation with the fuel will be conducted at a powerhouse in Krabi province.
If the tests prove to be successful, the project will be expanded to other powerhouses throughout the country which will help release oil palm produce from the stockpile and maintain its price at a suitable level.