EGAT expands overseas investment

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BANGKOK, June 26 — Electricity Generating Authority of Thailand (EGAT) related companies are increasing their overseas investment.

EGAT International (EGATi) acting president Thana Putarungsi has signed a memorandum of understanding with Vietnam Energy Department deputy director-general Le Tuan Phong to build a coal-fired power plant with a generation capacity of 1,200 megawatts.

Located in the Quang Tri provincial special economic zone with first and second generation facilities set for completion in June and December 2021 respectively, the plant will be fueled by imported coal.

Last August the Vietnamese government allowed EGATi to invest in development of a power plant that will help turn Quang Tri into the industrial centre of central Vietnam.

Meanwhile, the EGAT-related Electricity Generating Public Company Limited (EGCO) announced it acquired a 40.95 per cent stake worth US$453 million (Bt14.75 billion) in the 630 megawatt Masinloc power plant in Zambales province in Luzon, the Philippines, from an American firm, AES Corporation.

The share transfer, to be finished in the coming quarter, results in AES holding 51 per cent and International Finance Corporation having 8.05 per cent of shares in the plant.