reports additional loan procurement and investment in

Electricity Generating Plc (EGCOMP), in a filing to the Stock Exchange of Thailand today, said that the company would borrow money from the banks and/or local financial institutes worth not exceeding Bt1,200 million as approved at its board meeting yesterday. The company said that the proceeds from the loan of Bt100 million will be used as the working capital and the remaining Bt1,100 will be the VAT loan. EGCOMP added that the company on August 22 signed a joint venture agreement with PTT and other partners to set up an LNG importing company named Thai LNG Power Co Ltd. The joint investors in this new company comprise PTT (40% stake), EGCOMP (10%), Italian-Thai Development Plc (13.34%), Thanayong Plc (13.33%), Petroasia International Corporation and Sri U-Thong Co Ltd (13.33%) and Thai LNG Co. (10%). EGCOMP said that the company would invest about Bt75 million in Thai LNG Power Co which was set up to import and distribute liquified natural gas (LNG) with an initial registered capital of Bt750 million. At first, said EGCOMP, the capital will be paid up by 25%. The remaining capital will be paid at the time specified later by the board. Translated by the Nati