Tongkah Harbour looks to raise Bt1.4 bn in capital for expansion
Listed mining firm Tongkah Harbour Plc plans to raise Bt1.4 billion to expand its investments in mining, energy and real estate in the second half of this year, according to the company's chief executive officer Wijit Jiemwijitkul.
In a press release issued on Monday, he said the company planned to raise the money in the third quarter by offering new shares to its existing shareholder.
Of the Bt1.4 billion, he said Bt800 million will be spent on investing in mining and energy while Bt400 will be invested in real estate and Bt200 million will be used as cash flow.
For mining, he said the company will expand its investment in Myanmar, in line with an agreement inked last year. The new capital will be used to expand the production capacity of a Myeik plant to 120 tonnes a month.
The company is negotiating with mining firms in Myanmar to join its mining businesses in Myeik, Dawei and Shan State, he said.
He added that the company had partnered Japanese firm Sojitz Corporation to study the possibility of an investment in potash mining in Vientiane.
The study will be completed this year, he added.
