Thailand Energy

Mitsui to build new gas-fired power plant in Thailand

20, Nov. 2019

This undated photo shows the location of a planned gas-fired power plant to be built by Mitsui & Co. and Gulf Energy Development Co. of Thailand in Rayong Province. (Photo courtesy of Mitsui)

BANGKOK, NNA - Major Japanese trading house Mitsui & Co. will build a new gas-fired power plant in Thailand to meet growing needs for electricity in the Southeast Asian country.

Mitsui said in a statement on Monday that a joint venture between Mitsui and Thai private power firm Gulf Energy Development Co. will run the 2,500-megawatt power plant in Rayong Province, southeast of the capital.

The Japanese firm holds a 30 percent stake in the joint venture, Gulf PD Co.

Construction of the 50 billion baht ($1.6 billion) plant will begin in July 2020.

Mitsui said the power plant will start supplying electricity to the Electricity Generating Authority of Thailand in 2023 for 25 years.

The government-backed Japan Bank for International Cooperation is providing project financing for some $208 million, Mitsui said, adding the loan is co-financed by the Asian Development Bank, Export-Import Bank of Thailand, Mizuho Bank Ltd., Sumitomo Mitsui Banking Corp., Sumitomo Mitsui Trust Bank Ltd. and other banks covering some $1.36 billion.

Separately, Mitsui and Gulf Energy have jointly started construction of another 2,500-megawatt gas-fired power plant in the eastern province of Chonburi. This plant will become fully operational in October 2022. (NNA/Kyodo)

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