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...
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