During the nine-month period, 398,209 units were exported with a value of Bt177.7 billion. Year on year, the figures represented growth of 27.74 per cent in volume and 22.13 per cent in value. - The Nation.

Power venture

The Siemens Power Generation Group and its consortium partner, Marubeni of Japan, yesterday signed a contract with the Electricity Generating Authority of Thailand to build a turnkey 700MW combined-cycle power plant in Bang Pakong, Chachoengsao.

The Siemens Marubeni Consortium will provide all equipment and services associated with the design, manufacture, installation and construction of a combined-cycle facility.

Electricity demand in Thailand is increasing as major industries including metalworking, textiles, paper and rubber need more power for production facilities.

This new facility will be connected to the transmission system through a 230kV switchyard at the plant, said Dietmar Siersdorfer, president of Power Generation Energy Solutions at Siemens AG. - The Nation.

BAAC provisions

Deputy Prime Minister and Finance Minister MR Pridiyathorn Devakula yesterday asked the Bank of

Agriculture and Agricultural Cooperatives (BAAC) to

strengthen its reserves against doubtful debts.

 The BAAC has to increase its reserves but there is no need to meet standards implemented by commercial banks,

he said after meeting the bank's executives. The BAAC has 100 per cent in reserves for three-year overdue loans, 70 per cent for two-year overdue loans and 40

per cent for one-year overdue loans.

The BAAC may increase loan reserves to 50 per cent in the first year of a loan default and then 100 per cent in the second year, according to BAAC executives. - The Nation.