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Thailand's junta plans US$609m infrastructure fund

Wednesday, November 5, 2014 - 20:12

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Thailand's military government plans to launch an infrastructure fund in the first quarter of next year in a bid to raise about 20 billion baht (US$609 million) for a state enterprise agency for investment.

[BANGKOK] Thailand's military government plans to launch an infrastructure fund in the first quarter of next year in a bid to raise about 20 billion baht (US$609 million) for a state enterprise agency for investment.

The 20-year fund by the Electricity Generating Authority of Thailand (EGAT) is Thailand's first fund by a state enterprise, a move approved by the State Enterprise Policy Commission, known as the "super board".

"This fund will be a pilot project. If it is successful and well received, this may be an opportunity for other state enterprises to enter the stock market in the future," Kulit Sombatsiri, director-general of the commission told reporters after a board meeting.

The plan will be submitted to the cabinet for approval this month. If approaved, it will be filed to Securities and Exchange Commission.

sentifi.com

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The military government that took power after a coup in May ended months of political unrest to restore stability and kick-start the economy that contracted in the first half of this year. It has vowed to step up long-delayed infrastructure projects.

REUTERS

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