PTTEP example eyed
The Electricity Generating Authority of Thailand (Egat) hopes to use Egat International Co to generate business from abroad in the same way that PTT Exploration and Production (PTTEP) does for PTT.
Pornchai Rujiprapha, permanent secretary for the Energy Ministry and chairman of Egat, yesterday said Egat was reviewing its international projects to prepare for proposing the establishment of Egat International to the Cabinet. Egat is also considering whether its registered capital should be increased above the current target of Bt50 million, as it now has many more projects on the drawing board. "Egat International will be the investment arm of Egat in foreign countries by using employees who are keen on the power business," Pornchai said. Egat International would operate like PTTEP, which is majority-owned by PTT. PTTEP's investments are concentrated abroad. "In the future, the company also plans to list its [subsidiary's] shares on the stock exchange," he said. The first project for Egat International is the Nam Ngieb 1 power plant in Laos, in which it will take a 25-per-cent stake. Other projects are a power plant in Burma, expansion of the Thuen-Hinbun power plant and Nabong transmission line in Laos, as well as a coal-fired power-plant facility in Oman.
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