TTCL Public Company Limited (TTCL), the First and only Integrated Engineering, Procurement and Construction (Integrated EPC) company in Thailand, was incorporated with a startup capital of 20 Million Baht, formed by the joint venture of Italian-Thai Development Public Company Limited and Toyo Engineering Corporation.
TTCL increased the registered capital to 100 Million Baht and fully paid-up to support company growth and expansion, which causes shareholders proportion of ITD decreasing to 25 percent.
In order to detract from the effect on investment retardation in domestic due to economical crisis, TTCL expands its international business to overseas in Asia to firstly construct Chemical Fertilizer Plant to Japan Vietnam Fertilizer Co., then TTCL accomplishes to be specialized engineering teams for operating mega projects in Malaysia, Myanmar, China and Bangladesh later.
TTCL has set up Toyo-Vietnam Corporation Limited, to serve the demand for specialized integrated design and construction engineering for all turnkey projects in Vietnam.
TTCL has been certified for the Quality Management System in accordance with ISO 9001:2000
TTCL increased the registered capital to 160 Million Baht and fully paid-up to support company growth and expansion.
The Company competed with large scale international contractors and won the tender for the construction of a Methylene Modified Diphenylmethane Diisocyanate, mMDI plant for Bayer Polyurethane (Shanghai) in China, in which the previous successful construction of Bayer’s Bisphenol-A plant in Thailand played a significant role in the secure of this project.
The Company expanded its international business overseas and was entrusted with the construction of a Polyurethane plant in China and a Chlor-Alkali plant in the United States. This was the first time that the Company penetrated the US market, demonstrating the Company’s reputation and recognition as an international contractor.
PTT Polyethylene Company Limited awarded the construction of an Ethane Cracker Plant to the Company. Upon completion, the plant became one of the largest Ethylene plastic producers with production capacity of 1 million ton per year.
PTT Polyethylene Co., Ltd. employed the Company to construct Low Density Polyethylene (LDPE) and Linear Low Density Polyethylene (LLDPE) plants with total project value of over 9,000 million baht. Upon completion, both plants became one of the LDPE and LLDPE producers with the largest manufacturing capacity for these types of plastic in the world.
TTCL increased the fully paid-up registered capital to 320 Million Baht to support the growth of company business and sales.
In July, TTCL became a listed company in the Stock Exchange of Thailand.
TTCL increased amount of registered capital to 480,000,000 Baht by allotting the ordinary shares amounting 30,000,000 shares at amount of 1.00 Baht per share for Directors and Employees, and 130,000,000 shares for the Public Offering.
TTCL Offered 30,000,000 ordinary shares at amount of 1.00 Baht per share for Directors and Employees which causes company fully paid-up capital increasing to 350 Million Baht.
TTCL launched 130,000,000 ordinary shares at amount of 4.25 Baht per share for Public Offering which cause company fully paid-up capital increasing to 480 Million Baht since June 16, 2009.
Chiyoda Corporation, the 2nd largest EPC contractor in Japan, as one of its major shareholders, with a shareholder stake of 33,600,000 shares, accounting for 7% of the registered capital.
The Board of Directors approved an investment of 1,100 million baht in preferred shares of Navanakorn Electric Company Limited (“NNE”), a small power producer (SPP) of a 110 MW power plant that held a 25-year Power Purchase Agreement with the Electricity Generating Authority of Thailand.
TTCL has set up Toyo Thai Malaysia Sdn. Bhd. (“TTML”) to provide EPC services for Lamps Up-May Project and potential Project which holds 100% of total shares in TTML, the registered capital is 100,000 Malaysia Ringgits.
TTCL has set up ToyoThai-Myanmar Corporation Co., Ltd. (“TTMC”) to support the potential Project by joint venture of Zay Ya Engineering Co., Ltd. which holds 90% and 10% of total of total share in TTMC respectively, the registered capital is 300,000 US Dollars.
TTCL has set up ToyoThai-USA Corporation (“TTUS”) to support the potential Project by joint venture of Global Business Management Co., Ltd. and Hukutai Consulting Inc. which holds 80% , 10%, and 10% of total shares in TTUS respectively, the registered capital is 50,000 US Dollars.
The Company invested in Siam Solar Power Co., Ltd. ("SSP") with a 25% stake, having a registered capital of 250 million baht for the construction of solar power plants.
The Company established Toyo Thai Power Corporations Pte. Ltd. ("TTPSG") with a 60% stake, having a registered capital of US $ 42.5 million to support the energy business in the region.
The Company established Toyo Thai Power Myanmar Company Limited ("TTPMC"), for the development of a 120 MW Gas-fired power plant in Ahlone Township, Yangon, the Republic of the union of Myanmar, having a 30-year power purchase agreement with the Myanma Electric Power Enterprise and the investment value of approximately Baht 5,100 million (equivalent to USD 170 million).
In anticipation of development in further power plant investment projects, the Company established Toyo Thai Power Holdings Pte. Ltd. (“TTPHD”), a holding company which held 100% stake in Toyo Thai Power Corporation Pte. Ltd. (“TTPSG”), with TTPSG holding 95% stake in Toyo Thai Power Myanmar Co., Ltd. (“TTPMC”), bringing the net proportion that TTCL held over TTPMC both directly and indirectly to 71.5%.
The Company signed Memorandum of Understanding with the Department of Electric Power, the Republic of the Union of Myanmar, for the feasibility study of developing a 1,000MW Ultra Supercritical Coal-fired power plant in Thilawa, Yangon. The said study is to be completed within one year from the signing date.
The Company increased its paid-up capital to 560 Million Baht, for the issuance of new shares to existing shareholders and general public, with the objective of supporting the working capital requirements and investment in power plants.
In order to support overseas business growth, therefore on April 9, 2015 the Company has received approval from its shareholders to chang the Company name from “Toyo – Thai Corporation Public Company Limited” to “TTCL Public Company Limited”.