Tommy Taechaubol, Chief Executive Officer of Country Group Holdings Public Company Limited (CGH) announced that the company and its subsidiary have purchased ordinary shares of Padaeng Industry Public Company Limited (PDI) to the amount of approximately 15.01 percent of PDI’s paid registered capital at a price of 16.833 baht per share. It all comes to a total of 571.02 million baht from Bali Ventures Limited, which was the previous shareholder of PDI’s stocks.

“(Our) investing in shares of PDI at this time is a move to strengthen our company and diversify its investment risks. In addition, doing so will create new earnings as a result of expanding our operations,” Tommy said.

Padaeng Industry Plc is planning to adjust its operational structure by moving into the green business industry in order to prop up its soon-to-expire zinc mining concession in Mae Sot. The company expects to invest around 1.5 billion baht using its cash from operating activities and loans from financial institutions.

Furthermore, there are plans to invest in renewable energy, including a wind energy power plant project, a solar power plant project, a biomass power plant project, and a waste management (utilizing both industrial and household waste) power plant project.