Thailand's junta plans US$609m infrastructure fund

[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.

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