Egat set to propose infrastructure fund
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Worth up to Bt20 bn for Phra Nakhon Nua thermal power plant
The Electricity Generating Authority of Thailand (Egat) plans to propose the launch of an infrastructure fund worth Bt19 billion to Bt20 billion for the Phra Nakhon Nua thermal power plant in Nonthaburi to its board of directors.
Soonchai Kumnoonsate, governor of Egat, said yesterday that after approval by the Finance Ministry and the Cabinet, subscriptions would open in 180 days, which would be the first quarter of next year, after being delayed by the prolonged domestic political unrest.
This mutual fund would be country’s first state-enterprise infrastructure fund.
Siam Commercial Bank, which will on November 1 start acting as the financial adviser for the initial public offering, has selected Krungthai Asset Management as the fund manager.
The fund will be backed by the Phra Nakhon Nua plant’s cash flow.
The proceeds will help finance the construction and development of future power plants and transmission systems.
Recently, the National Council for Peace and Order approved the replacement of the Mae Moh power plant’s units 4-7 and transmission lines.
The project worth hundreds of billions of baht will strengthen the country’s electricity supply stability, Soonchai said.
