BANPU TO PAY BT2.5 BN
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The Supreme Court has ordered coal producer Banpu Plc to pay a total of Bt2.5 billion, including interest, to the plaintiff in a case in which the firm was found to have been deceptive in a partnership to develop a coal mining and power plant project in Hongsa, Laos.
The interest, set at 7.5 per cent a year, amounts to about Bt1 billion.
Siva Nganthavee’s Thai-Lao Lignite had been granted a concession by the Laotian government to develop the power plant in Hongsa in 1994 and, in 2005, it brought Banpu in as a partner. But the partners ended up in a dispute.
