Toyo-Thai Corporation Public Company Limited (TTCL) announced that it has entered into an agreement with the Department of Hydropower Planning under the Ministry of Electric Power to build and operate a 1,280 megawatt power plant.
The construction contract for the coal-fired plant at Ye township in Mon state is worth an estimated $2.3 billion, while the whole project is worth $2.8 billion, the Thailand-based construction firm said in a filing to the Stock Exchange of Thailand.
Under the 30-year concession, Toyo-Thai is expected to import about 4 million tonnes of coal a year to supply the power plant. Construction is expected to take about four to six years.
The power plant, which will supply electricity to the national grid, will be funded 75 percent from debt and the rest from equity, the company said.
