Thai Power Co. Pays $197M For Indonesian Mine Stake

Law360, New York (August 16, 2012, 1:20 PM EDT) -- Thai power producer Electricity Generating Public Co. Ltd. will pay $197 million for a 40 percent stake in an Indonesian coal mine to shore up its fuel supply and gain a foothold in the country, the world's biggest exporter of coal for power plants, the company said Thursday.

The Manambang Muara Enim project is an open-pit mine in southern Indonesia and has been operating since 2010 under a 28-year government concession. Operator PT Alam Karya Nusantara will retain the other 60 percent, EGCO said.

“The investment...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.