November 4, 1999

Thailand’s Electricity Generating Plc. –a privatised subsidiary of Egat– said Thursday it was considering acquiring a stake in the 1.2 billion dollar Num Thuen 2 hydro power project in Laos. The company, a privatised subsidiary of the Electricity Generating Authority of Thailand, said it was looking at buying a stake from Merrill Lynch Phatra Securities Plc. and Jasmine International Plc. In a statement to the Thai stock exchange,
Electricity Generating said plans were still undergoing preliminary study. “We have not reached any conclusion to propose to the board of directors yet,” it said. Thai  telecommunications firm Jasmine International said last month it had begun talks aimed at selling its 10- percent stake in the Nam Thun 2 dam in Laos. Jasmine President Songrit Kusomrosananan said the company had decided to dispose of its holdings in the 900 megawatt power project, in which it has invested three million dollars, to focus on its business at home. The Government of Laos holds a 25 percent stake in the dam project. Other stakeholders include Electricite de France with 30 percent, Transfield (Australia)
Co. Ltd. with 10 percent, Italian-Thai Development Plc. with 15 percent and Merril Lynch Phatra Securities Plc. with 10 percent.