Business Services Industry
Gulf Electric to raise 9 billion baht to fund power plant expansion in Thailand.
Knight Ridder/Tribune Business News, October, 2004
By Yuthana Praiwan, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Oct. 9--Gulf Electric Ltd, the concession holder for the Kaeng Khoi power plant, is preparing to raise its registered capital by nine billion baht to 14 billion baht to finance the 1,400-megawatt gas-turbine project in Saraburi.
President Sarath Ratanawadee said the investment cost of the project was US$800 million or about 33 billion baht. About $600 million would be in the form of loans and the remaining $200 million would be financed by the capital increase.
The loans would be half in baht and half in foreign currency. Siam City Bank, Bank of Ayudhya and Thai Military Bank are the loan arrangers for local-currency funding and the Japan Bank for...
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