denies fund mobilization of Bt20 bln from abroad

Electricity Generating Plc (EGCOMP) denied a published report which stated it would raise Bt20 billion from abroad to purchase the Khanom power plant. EGCOMP said that on March 9, 1995, Khanom Electricity Generating Co Ltd signed a contract at the head office of the Bangkok Bank to appoint a financial and legal advisor for the Khanom Power Plant purchase project. The financial advisors are Bangkok Bank Plc, JP Morgan Securities Asia Limited, Ruam Serm Kit Finance and Securities Plc, Yamaichi Merchant Bank Singapore Limited, and Finance One Plc. The legal advisor is Sakol Legal Counsellor Co Ltd, said EGCOMP. The scope of the financial advisors' work is to study and provide financial advice for the project for negotiating the project's main contract. In addition, they will arrange the financial model, methods of fund mobilization and various types of loans both locally or abroad and the chance of being fund arranger for loans from debt issues in the future. EGCOMP said that at the moment it cannot state the specific amount and methods for its mobilization of funds from the various types of loans. This will be the case until its financial advisors begin their work and finish the detailed study and also until the advisors receive approval from the company, the Electricity Generating of Thailand (EGAT) and the Cabinet. Translated by The Nati