Thailand national energy company PTT has signed contracts with Thai independent power producer Ratchaburi Electricity Generating (RATCH) to jointly develop a 3 Mt/year floating storage and re-gasification unit (FSRU) in Myanmar (US$400m project that could be later expanded) and coal-fired power plants in South-east Asia. Ratchaburi would own 25-30% in the LNG import terminal, with the remainder held by PTT and a domestic partner. Where coal-fired power projects are concerned, the two companies will jointly invest in a 600 MW coal-fired power plant in Kyaing Tong (Myanmar), worth US$1.3bn, which could export up to 500 MW to Thailand. The groups also consider investing in a 500 MW power plant near a petrochemical complex developed by PTT in Vietnam and aim to jointly bid for a 300 MW power plant in Indonesia (US$150m).
The joint projects would help Ratchaburi, the largest private power generation company in Thailand, reach its goal to raise its installed capacity from 6.2 GW to 9.7 GW by 2023.