ASEAN KEY DESTINATIONS
PTT to develop Laos power
"The company wants to own about 25 percent of each project and expects to conclude at least one deal in next year's first quarter."
The move is aimed at tapping into growing demand for power in Thailand, he said, while declining to identify the plants.
However, an industry source said the plants in question were possibly the Xayaburi and Xe Nam Noi projects.
PTT's board recently approved a five-year investment budget for 2011-15 worth 327 billion baht, with 46 percent earmarked for foreign operations such as coal mines, palm oil, floating liquefied natural gas, power generation and asset acquisition.
Of the total, almost 229 billion baht would be used for committed or approved projects and the rest for new investment opportunities.
Joint-venture investments would account for 51 percent of the budget, natural gas projects 39 percent, oil operations 4 percent and head office and other expenditures 6 percent. About 95 billion baht of the total would be spent next year alone.
If projects by subsidiaries are included, particularly for oil and gas exploration and production, the investment budget increases to 900 billion baht.
Funding would come mainly from cash flow and debenture issues, said Mr. Tevin. PTT has been involved in power generation since 2004 but only on a small scale.
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