Managing director Narong Sitasuwan said the company had continued to enlarge its invest-

ment although it could not join the bidding to become an independent power producer (IPP) for the Electricity Generating Authority of Thailand (Egat).

The Electricity Regulatory Board has ruled Egat's affiliated companies out of the IPP scheme, which will be launched later this year.

Ratchaburi's investment programme, he said, would be financed from the company's cash flow.

It plans direct investment alongside joint ventures with domestic or foreign partners, contingent upon the size of the projects.

Its first overseas project calls for an investment of Bt2.25 billion for a 25-per-cent stake in Southeast Asia Energy Ltd, which operates the Nam Nguem II dam in Laos.

Narong said the company was also interested in Num Nguem III, if the Lao government decides to start that power project.

If that turns out to be the case, the company will look to partner with MDX Plc.

Ratchaburi also has on its radar screen Cambodia and Burma, who might try for alternative

electricity projects to obviate or minimise their need for petroleum, he said.

The firm has two subsidiaries: Ratchaburi Electricity Generating Co Ltd, which operates the Ratchaburi Power Plant, and Ratchaburi Energy Co Ltd, an investment arm for small power plants and power-related projects.

It reported earnings of Bt12.8 billion and a net profit of Bt1.9 billion in the first quarter.

Somluck Srimalee

The Nation

VIENTIANE