Bangkok--May 24--Ratchaburi Holding
Ratchaburi Electricity Generating Holding Public Company Limited (symbol as ”RATCH”) today announces the resolutions of the Company’s Board of Directors Meeting held on May 20, 2005 that the Board of Directors has approved the Company’s investment in shares acquisition of SouthEast Asia Energy Limited (SEAN), a subsidiary company of CH. Karnchang Public Company Limited, at a 25-30 percent shareholding stake of the total shares equivalent to investment fund approximately at 2,353-2,824 million baht. The source of investment fund will be derived from the Company’s internal cash and/or project loan.
Mr. Boonchoo Direksathapon, the Managing Director of Ratchaburi Electricity Generating Holding Public Company Limited, disclosed that the decision making for investment in this project is part of the Company’s business plan to enhance its business growth for adding the value to our shareholders and stakeholders at the maximum benefits. This investment will additionally increase the total installed generation capacity of the Company to about 153.75 – 184.5 Megawatts from its present generation capacity of 4,345 Megawatts (including the 350-Megawatt Combined-Cycle Power Plant Project of Ratchaburi Power Company Limited).
This transaction will create the Company’s opportunity in revenue growth and financial strength.
The Nam Ngum 2 Hydroelectric Power Project is located in the Lao People's Democratic Republic (Lao PDR) with the total installed capacity of 615 Megawatts and operated by SouthEast Asia Energy Limited. It has entered to 25-year Power Purchase Agreement with Electricity Generating Authority of Thailand (EGAT). Recently, SEAN and EGAT has signed the Memorandum of Understanding in Fundamental Principle for Power Purchase Agreement Nam Ngum 2 Hydroelectric Power Project on April 25, 2005. Whereas the project’s commercial operation will be estimated on January 2013.
After the completion of the Company’s investment transaction, the shareholding structure of SouthEast Asia Energy Limited will comprise of CH. Karnchang Public Company Limited, Voith Seimens Hydro Power Generation Company Limited (Germany), Preussang Noell Inc. (Germany), and Shlapak Development Company Limited holding 45-50 percent stake, the Lao People's Democratic Republic (Lao PDR) holding 25 percent stake, and Ratchaburi Electricity Generating Holding Public Company Limited holding 25-30 percent stake.
However, this joint-venture project will take effect if the Company enables to fulfill in conditions and other substances of the agreements negotiated mutually with SEAN that are; the Share Purchase Agreement and the Shareholders Agreement and signs all related documents. Currently, the progress of this project is under negotiation in further details.
Ratchaburi Electricity Generating Holding PCL is a Thailand leading investment firm in power generation business with total installed capacity of 4,345 Megawatts.
At present, the Company has invested in power plant projects namely; 3,645-Megawatt Thermal and Combined-Cycle Power Plant of Ratchaburi located in Ratchaburi Province, 350-Megawatt Combined-Cycle Power Plant of Tri Energy located in Ratchaburi Province, 350-Megawatt Combined-Cycle Power Plant of Ratchaburi Power located in Ratchaburi Province, and 153.75-184.50 Megawatt Hydroelectric Power Plant of Nam Ngum 2 located in the Lao People's Democratic Republic (Lao PDR).
Learn more about Ratchaburi Holding, visit our web site at www.ratch.co.th
Information for media contact:
Charusuda Boonkerd / Wiwan Phayakvichien
Public Relations Department
Ratchaburi Electricity Generating Holding PCL.
Tel. 0 2978 5061-3 Fax 0 2937 9321
Email: [email protected] , [email protected] End.
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