Bangkok--Feb 11--Ratchaburi Electricity
Ratchaburi Electricity Generating Holding Public Company Limited [SET symbol: RATCH
] today notifies to the Stock Exchange of Thailand (SET) that Ratchaburi Gas Company Limited (called “Ratchaburi Gas”), a subsidiary, which is a shareholder of Tri Energy Company Limited (called “TECO”), together with Texaco Thailand Energy Company I (called “TTEC”) called for the shares purchase of TECO from EME Tri Gen B.V. (called “ETG”), which currently holds a 25% stake in shareholding or 8,559,500 shares of TECO.
The transaction has been approved by the Board of Director and is scheduled for payment on March 9, 2005. The Company will be lending Ratchaburi Gas
for the TECO’s share purchasing. After the payment, the Company, on behalf of Ratchaburi Gas, will increase the ratio of TECO shareholding from 37.5% to 50%. In the mean time, the Company’s power generation will increase to 350 megawatts enhancing the total installed capacity of 3,995 megawatts.
Mr. Boonchoo Direksathapon, the Managing Director of Ratchaburi Electricity Generating Holding Public Company Limited as the parent company of Ratchaburi Gas Company Limited, said that the success on this transaction will benefit the Company’s growth and its promised future since the Tri Energy Power Plant is considered the valuable asset that will potentially increase the value to the shareholders. After the payment for shares purchase has been completed, Ratchaburi Gas will increase the shareholding ratio in TECO to 50% equal to TTEC while it will start realizing the revenue from power plant’s operation instantaneously. This will enhance Ratchaburi Gas’s generation ownership from 262.5 megawatts to 350 megawatts. Besides, TECO has potential on project expansion additional for 700 megawatts. Therefore, this contract signing is a worthwhile investment and positively creates opportunity to the business.
Ratchaburi Gas Company Limited, 99.99% stake holding by Ratchaburi
Electricity Generating Holding Public Company Limited, is an investment arm in power generation business. It currently holds 37.5% stake in Tri Energy Company Limited.
Tri Energy Company Limited is an operator of 700-Megawatt Combined Cycle
Power Plant located in Ratchaburi province using natural gas as its primary fuel. Currently, the Tri Energy Company Limited is held by 3 major shareholders named as Ratchaburi Gas Company Limited at 37.5% in stake, Texaco Thailand Energy Company I at 37.5% in stake, and EME Tri Gen B.V. at 25% in stake. The Tri Energy Power Plant started commercial operations since July 1, 2000 by selling the electricity generation to EGAT with 20-year Power Purchase Agreement.
Ratchaburi Electricity Generating Holding Public Company Limited is a
Thailand leading investment firm in power generation business with total installed capacity of 3,907.5 Megawatts. At present, the Company wholly owns 5 subsidiaries and 3 associated companies namely;
Subsidiaries
Ratchaburi Electricity Generating Company Limited, holding 99.99%, is an
operator of Ratchaburi Power Plant in Ratchaburi province with total installed capacity of 3,645 Megawatts.
Ratchaburi Energy Company Limited, holding 99.99%, is an investment arm in small power businesses that use renewal fuel. Currently, it has invested 15% stake in Siam Ethanol Exports Co., Ltd., an operator of Ethanol manufacturing project for export.
Ratchaburi Gas Company Limited, holding 99.99%, is an investment arm in power generation business. It currently holds 37.5% stake in Tri Energy Company Limited.
Ratch Udom Power Company Limited, holding 99.99%, is an investment arm in
power generation business. It currently holds 99.99% stake in Ratchaburi Alliances Company Limited.
Ratchaburi Alliances Company Limited holds 99.99% stake through Ratch Udom Power Company Limited, which currently held 25% stake in Ratchaburi Power
Company Limited.
Associated Company
Tri Energy Company Limited is an operator of 700-Megawatt Combined Cycle
Power Plant located in Ratchaburi province using natural gas as its primary fuel and diesel oil as secondary fuel. The Tri Energy Company Limited is held by Ratchaburi Gas Company Limited at 37.5% in stake.
Ratchaburi Power Company Limited is an investor of 1,400-Megawatt Combined Cycle Power Plant, using natural gas as its primary fuel and diesel oil as
secondary fuel. The project will locate at the facility site of Ratchaburi Power Plant in Ratchaburi province. The Company has invested through Ratch Udom Power Company Limited and Ratchaburi Alliance Company Limited by holding stake at 25%.
Siam Ethanol Exports Company Limited is a licensed ethanol manufacturer for export with approximately capacity of 30,000 tons per year in productivity.
RATCH takes part by holding 15% stake through Ratchaburi Energy Company
Limited.
Learn more about Ratchaburi Holding, visit our web site at www.ratch.co.th Information for media contact: Charusuda Boonkerd / Wiwan Phayakvichien Public Relations Department Ratchaburi Electricity Generating Holding PCL.
Tel. 0 2978 5061-2 Fax 0 2937 9321
Email: [email protected] , [email protected] End.