Three Thai firms to invest in Cambodia power plant

Reuters - Thursday, January 31

BANGKOK, Jan 30 - Three leading Thai companies said on Wednesday they were studying plans to build a 3,660-megawatt coal-fired power plant in Cambodia to supply electricity to Thailand.

Top builder Italian-Thai Development PCL , Electricity Generating and Ratchaburi Electricity Generating Holding gave no indication of how much the plant would cost.
But they said in a statement to the Thai stock exchange they had signed a memorandum of understanding to study joint investment in the plant in the Cambodian coastal province of Koh Kong near the Thai border.
EGCO and Ratchaburi would hold a combined stake of 70 percent and Italian-Thai Power, 15 percent owned by Italian-Thai Development, would have the other 30 percent, they said.
The three firms were talking to the state-run Electricity Generating Authority of Thailand about supplying electricity generated by the plant to Thailand, it said.
Construction was expected to start in 2012 and the plant to begin operations in early 2016, the statement said.
At 0926 GMT, Italian-Thai shares were up 3.9 percent at 8 baht, Electricity Generating was up 2.69 percent and Ratchaburi was 1.18 percent lower.