Bangkok--Nov 4--RATCH
Ratchaburi Holding Invests 2,350 Million Baht in a Joint-Venture Hydroelectric Power Project of Nam-Ngum 2 in Laos
Ratchaburi Holding has acquired 25% equity of SouthEast Asia Energy Company Limited. The investment will increase its installed capacity for 153 Megawatts.
Ratchaburi Electricity Generating Holding Public Company Limited (“RATCH”) signed the Shareholders Agreement and acquires for 25% share holding stake of SouthEast Asia Energy Company Limited (“SEAN”), an operator of hydroelectric power project of Nam Ngum 2 in Loa People’s Democratic Republic (Lao PDR) from CH. Karnchang Public Company Limited after the Company has reviewed and negotiated all the terms and conditions of the Shareholders Agreement. Under the agreement, the shareholder structure of SouthEast Asia Energy Company Limited comprises as below:
Company
Shareholding Ratio 1. CH. Karnchang Public Company Limited
28.5% 2. Lao People’s Democratic Republic (Lao DPR)
25% 3. Ratchaburi Electricity Generating Holding PCL.
25% 4. Bangkok Expressway Public Company Limited
12.5% 5. P.T. Construction & Irrigation Co., Ltd.
4% 6. Shlapak Development Company
4% 7. Team Consulting Engineering and Maintenance Co., Ltd. 1%
Presently, SouthEast Asia Energy Company Limited has the registered capital of 400 million Baht, a total of 40,000,000 shares at 10 Baht per share, which is paid-up capital of 175 million Baht. On November 3, 2005, the Company has paid 43.75 million Baht or 25% of 175 million Baht. After that, SEAN expects to increase the registered capital to 9,400 million Baht and the Company will gradually pay the investment according to the fund needed for project development by its shareholding proportion. Therefore, the Company’s total investment will amount to 2,350 million Baht.
The hydroelectric power project of Nam Ngum 2, which holds a long-term Power Purchase Agreement (PPA) with EGAT PCL., is located 35 kilometers north of Nam Ngum 1 in the People Democratic Republic of Loas. It has the total generating capacity of 615 Megawatts. The project will begin supplying electricity power to Thailand in September 2010. Thus, the investment will increase another 153 Megawatts of the Company’s total installed capacity to 4,498 Megawatts.
Ratchaburi Electricity Generating Holding PCL is a Thailand leading investment firm in power generation business. At present, the Company has invested in 4 power plant projects namely; 3,645-Megawatt Thermal and Combined-Cycle Power Plant of Ratchaburi located in Ratchaburi Province, sharing 350-Megawatt Combined-Cycle Power Plant of Tri Energy located in Ratchaburi Province, sharing 350-Megawatt Combined-Cycle Power Plant of Ratchaburi Power located in Ratchaburi Province, and sharing 153-Megawatt Hydroelectric Power Plant of Nam Ngum 2 located in Lao PDR.
Charusuda Boonkerd / Wiwan Phayakvichien
Public Relations Department
Ratchaburi Electricity Generating Holding PCL.
Tel. 0 2978 5061-4 Fax 0 2937 9321 End.
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