Mr. David Van Dau, Chief Executive Officer of PSG Corporation Public Company Limited (mai: PSGC), stated that the company’s business direction is closely aligned with the region’s energy planning framework, particularly the draft Power Development Plan of Thailand (PDP 2026).
Thailand’s Ministry of Energy opened this plan for public hearing in September 2026 and outlined an additional 3,407 MW of hydropower imports from neighboring countries, to be gradually integrated into the grid between 2026 and 2037. The draft PDP 2026 also includes pumped-storage hydropower projects, matching PSGC’s long-term business expansion plans.
Currently, PSGC plays a significant role in the energy resource supply chain between Laos and Vietnam through Nam Tien Limited Liability Company (NT). Coal trading between the two countries is conducted within a government-level partnership, supporting long-term cooperation in the energy and mining sectors.
NT’s strength lies in its integration across the entire value chain, from mining and coal processing in Salavan and Sekong Provinces, Laos, to cross-border logistics and delivery to end customers in Vietnam. This enables the company to manage quality, costs, and delivery schedules across its operations.
Furthermore, NT has secured the rights to trade coal in Vietnam from Xekong Power Plant Company Limited (XPPL), the concession holder for coal mining in Laos. Mr. David noted that government-level cooperation means NT’s business is not reliant on ad hoc orders, but is instead based on structural relationships between the two countries, with key clients being Vietnamese state-owned energy enterprises.
In the first half of 2026, NT delivered 1.41 million tons of coal, exceeding the company’s targets. However, unprecedented rainfall and severe flooding during the rainy season posed challenges for production and cross-border transportation, leading PSGC to take steps to manage and mitigate risks for the rest of the year. This performance marks a shift in the group’s revenue structure.
PSGC reported total revenue of THB 7,292.5 million during the period, with NT accounting for THB 5,975.1 million or 81.9% of total revenue. This included coal sales of THB 5,722.3 million and THB 252.8 million from mining and coal processing services. Construction revenue amounted to THB 1,043.6 million, increasing the company’s reliance on recurring revenue from the energy supply chain while reducing dependence on project-based construction income.
In PSGC’s original construction business, Phase 1 of XPPL’s power plant expansion project has reached 98% completion. Meanwhile, the resettlement development project, valued at THB 5 billion, and related infrastructure work in Laos are 55% complete, with the remaining 45% or approximately THB 2.4 billion expected to be recognized as revenue through the end of 2028. In the next phase, construction will serve as supplementary revenue, focusing on projects connected to the group’s energy and natural resources businesses for strategic alignment.
A further growth driver is the 10-year government-to-government cooperation agreement between Vietnam and Laos, supporting continuity in the energy supply chain business and opening new revenue opportunities alongside traditional businesses. PSGC is developing a pumped-storage hydropower project expected to take 5-7 years, broadening its energy business base and diversifying future revenue sources.
Mr. David emphasized that PSGC aims not only to be a coal supplier but also to become a regional energy and natural resources project developer with stable income. The company seeks to leverage its existing resources and infrastructure in Laos to pursue long-term regional energy opportunities.
In terms of sustainability, PSGC has been listed in the “ESG Emerging” list for 2026 by Thaipat Institute and qualified for the ESG 100 Securities group, reflecting the company’s development in environmental, social, and governance aspects during its business structure transition.
