Bangkok--Oct 10--KASIKORNBANK
KASIKORNBANK will provide Amata Power (Bangpakong) with financial support for their project, “55 Megawatt Expansion in Power Generating Capacity” worth THB1.5 billion with a ten-year loan and multi-purpose credit lines of another THB 100 million. The project will help accommodate rising demand of electricity in Amata Nakorn Industrial Estate.
Mr. Boontuck Wungcharoen, Executive Vice President, KASIKORNBANK, said in an interview that KBANK would provide THB1.5 billion in a 10-year loan and provide another THB100 million in multi-purpose credit lines to Amata Power (Bangpakong) Co., Ltd. This financial package will be earmarked for the expansion of power generating capacity at the company’s combined cycle power plant to 167MW, from the present 112 MW capacity.
The 55MW increase in capacity will better respond to higher demand at Amata Nakorn Industrial Estate in Chon Buri because of a rising number of new factories and the expansion of production capacities at existing manufacturers. It is thus expected that power usage at the estate will increase by around 50MW. This project is expected to start its commercial operation by June 2007.
Mr. Boontuck added that the government’s staunch support for the promotion of foreign investment in Thailand had drawn a great number of investors to industrial estates in the country. This has been particularly true at Amata Nakorn Industrial Estate, one of Thailand’s leading industrial estate developments. With high growth in the number of its factories, power demand within Amata Nakorn has surged rapidly. The increased investment for expansion in generating capacity by Amata Power (Bangpakong) will match rising power requirements within the estate. This is regarded as a prudent investment as the additional power supply will exactly match demand.
Presently, Amata Power (Bang Pakong) has a generating capacity of 112MW. Of this, 90MW are sold to the Electricity Generating Authority of Thailand (EGAT) and 22 MW are supplied to factories located within Amata Nakorn Industrial Estate. In 2004, the company earned some THB1.813 Billion in revenue. Once the expansion project is completed, the company will earn an additional income of around THB800 million annually. End.