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Electric utility delays new projects

Bangkok Post, Nov. 11, 2008

http://www.bangkokpost.com/breaking_news/breakingnews.php?id=131973

Ratchaburi Electricity Generating Holding Pcl. (RATCH), a leading Thai independent power producer, said Tuesday it will delay a number of new investment projects, especially in Laos, as it awaits a clear power development plan from the energy ministry.

In the meantime, the demand for electricity in Thailand has dropped due to the global financial crisis, a senior executive of the company said.

RATCH managing director Noppol Milinthanggoon said his company will postpone several new projects, especially joint investments with Laos, in relation to four power producing plants there.

Reasons for the delay are, according to Mr Noppol, a nuclear power development plan on the part of the Thai energy ministry in response to lower-than-anticipated demand for electricity. A recently monitored period showed only a growth of three per cent.

Also, the economy during the next one or two years is expected to slow, with growth less than 5 per cent while new plants which started operations recently by the company have not yet operated at full capacity, he said.

However, the company will still explore investment opportunities locally and overseas in places such as Vietnam, Laos and Indonesia, he said.

RATCH still has about 8.5 billion baht of cash in hand and could issue bonds for 7.5 billion baht immediately if it wishes to invest in new projects.

Permanent Secretary for Energy Pornchai Rujiprapha said revising the government's power usage plan would require the economy, power in reserve, ability to build new power plants by the Electricity Generating Authority of Thailand (EGAT) and power purchases from other countries into consideration.

Mr Pornchai said power purchases from Laos could be delayed further after being postponed for one year already. (TNA)

 
 

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