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ASEAN PROFILES
ASEAN KEY DESTINATIONS |
Thai Glow to take 67% stake in Lao’s power plant Thailand's Glow Energy, a unit of French utility Suez SA, said on Monday its board had approved plans to buy a 67.25 percent stake in a Lao power plant for $45 million, Reuters reported. A subsidiary of Glow Energy will buy the stake in the Houay Ho plant from Stopper Finance B.V. and Suez-Energy Asia Co, which are subsidiaries of Suez-Tractebel, Glow Energy said in a statement. The purchase in Laos should help boost Glow Energy's net profit by 3 percent this year, finance chief Suthiwong Kongsiri has said. Glow has the capacity to produce 1,708 MW of power, or 7 percent of Thailand's capacity, and 967 tonnes per hour of steam for industrial customers. It plans to boost power capacity by 50 percent by 2011 to meet rising demand. |
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