RATCH Announces the Progress in Hongsa Power Project in Laos With USD 16 Million Project Development Fee

RATCH announces the resolution of the Board of Directors’ Meeting in approval the payment for project development fee in Hongsa Power Project in Laos with USD 16 Million as well as appointing the new Audit Committee. Mr. Narong Sitasuwan, the Managing Director of Ratchaburi Electricity Generating Holding PCL. reveals the progress of Hongsa Power Project in Lao PDR, the joint development project with Banpu Power Co., Ltd., that the Company will pay USD 16 Million in total for joint development fee. The payment is divided into the Joint Development Right Fee at USD 10 Million for Banpu Power Co., Ltd. and another USD 6 Million as the Propriety Information Reimbursement Cost for Banpu PCL. Therefore, the project development fee payment will be paid by the Company’s internal cash. Hongsa Power Project is a coal-fired thermal power plant with 1,653 megawatts in total capacity. The Commercial Operation Date (COD) is expected to start in 2013. RATCH will initially hold a 40% stake in the project so the company will have an increase in capacity at 661 megawatts. Whereas Banpu Power Co., Ltd. holds a 40% stake and the Laos Government holds another 20% stake. Currently, the joint-venture partners are negotiating with the Electricity Generating Authority of Thailand (EGAT) in the Power Purchase Agreement (PPA). Additionally, the Company also announces the resolution of the Board of Directors’ Meeting in appointing the new Audit Committee namely Mr. Sathit Limpongpan as the Chairman, Mr. Nathi Premrasmi as the Member and Mr. Atchada Kesornsook as the Member. While Mr. Thoedpan Indramaha, the Director of the Internal Audit Division, is acting as the Secretary to the Audit Committee. This resolution was effective from April 28, 2008. For more information, please contact Public Relations Department, Ratchaburi Electricity Generating Holding PCL. Wiwan Phayakvichien and Duangkeaw Dheinsawadkij Tel: 0 2978 5221, 0 2978 5224 E-mail [email protected]

• ข่าวBanpu Power
• ข่าวo:eco
• ข่าวo:ene
• ข่าวen