clarifies news on IPP project

Electricity Generating Plc (EGCOMP) clarified a published report to the Stock Exchange of Thailand (SET) stating that the company has not been disqualified from participating in the IPP project but rather decided itself not to join the project. EGCOMP was making a clarication on a news report which stated that the company had been disqualified from joining in the bid for the IPP project of the Electricity Generating of Thailand (EGAT). The reasons given were that some bias might occur during the consideration process and this could have caused other bidders to feel uncertain of the outcome of the bid. EGCOMP said that it was not disqualified from joining but the decision not to take part in the project was the company's own will and policy. This statement was made to prevent any doubts arising that there could be unfairness in the consideration process, or bidders not feeling confident of the bid outcome. Also EGCOMP made the announcement to allow more convenience for EGAT's decision-making process. However, EGCOMP still reserves the right to consider joining with the bid winner at a later date if the project yields appropriate and satisfactory returns, said the company. Translated by the Nation