公司新聞
Hemaraj Invests in Houay Ho Power Plant Project in Laos
03/06/2009
3 June 2009, Bangkok – Hemaraj Land And Development Public Company Limited paid Baht 267 million to join investment in Houay Ho Power plant project in Loas – a strategic move to broaden its revenue in utilities business.
According to Mr. David Nardone, President and CEO of Hemaraj Land And Development Plc., the investment in Houay Ho Thai, a holding company in Houay Ho Power Plant Project, will bring the company recurring utility income.
As of 28 May 2009 Board of Directors Meeting's resolution approved the Company to enter for the purchase 51% of issued and paid-up capital of ordinary shares of Houay Ho Thai Company Limited ("Houay Ho Thai"), a holding company holding share in Houay Ho Power Plant Company Limited ("Houay Ho Power"), from Suez Energy Asia Company Limited and the purchase of new issued shares to maintain the same shareholding of 51% in Houay Ho Thai which shall enable Houay Ho Thai to make additional investment in Houay Ho Power from 20% to 25%. All the precedent conditions as the agreements had been achieved and the Company paid for this investment in the total amount of USD 7.74 million (equivalent to approximately Baht 267 million).
Houay Ho Power is a company operating a 152 megawatt Hydro Power Plant business in Laos People's Democratic Republic under a 30 years concession from the Laos Government to Build, Operate and Transfer (BOT). Presently, Houay Ho Power has sold electricity through a Power Purchase Agreement with The Electricity Generating Authority of Thailand (EGAT) with the contractual minimum guarantee of production capacity of 126 megawatt while the total production capacity per year is 394.2 gigawatthour, transmitted to Ubonratchatani. Additionally, Houay Ho Power has also sold the power through the Power Purchase Agreement with Laos government electricity authority with contractual minimum guarantee of production capacity of 2 megawatt. The main shareholder is Glow Energy Public Company Limited.
“This continues Hemaraj’s broad based revenue from industrial estates, utilities and property. The small increase in power development will enhance our ability to provide a long-term predictable earnings stream to our shareholders”, said Mr. Nardone.
According to Mr. David Nardone, President and CEO of Hemaraj Land And Development Plc., the investment in Houay Ho Thai, a holding company in Houay Ho Power Plant Project, will bring the company recurring utility income.
As of 28 May 2009 Board of Directors Meeting's resolution approved the Company to enter for the purchase 51% of issued and paid-up capital of ordinary shares of Houay Ho Thai Company Limited ("Houay Ho Thai"), a holding company holding share in Houay Ho Power Plant Company Limited ("Houay Ho Power"), from Suez Energy Asia Company Limited and the purchase of new issued shares to maintain the same shareholding of 51% in Houay Ho Thai which shall enable Houay Ho Thai to make additional investment in Houay Ho Power from 20% to 25%. All the precedent conditions as the agreements had been achieved and the Company paid for this investment in the total amount of USD 7.74 million (equivalent to approximately Baht 267 million).
Houay Ho Power is a company operating a 152 megawatt Hydro Power Plant business in Laos People's Democratic Republic under a 30 years concession from the Laos Government to Build, Operate and Transfer (BOT). Presently, Houay Ho Power has sold electricity through a Power Purchase Agreement with The Electricity Generating Authority of Thailand (EGAT) with the contractual minimum guarantee of production capacity of 126 megawatt while the total production capacity per year is 394.2 gigawatthour, transmitted to Ubonratchatani. Additionally, Houay Ho Power has also sold the power through the Power Purchase Agreement with Laos government electricity authority with contractual minimum guarantee of production capacity of 2 megawatt. The main shareholder is Glow Energy Public Company Limited.
“This continues Hemaraj’s broad based revenue from industrial estates, utilities and property. The small increase in power development will enhance our ability to provide a long-term predictable earnings stream to our shareholders”, said Mr. Nardone.