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Project Financing for Khanom 4 Gas-Fired Combined Cycle Power Plant in Thailand
Supporting Overseas Deployment of Infrastructure System by Japanese Companies

  • Region: Asia
  • Infrastructures
  • Project Finance
NR/2013-120
December 11, 2013
  1. The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today, a loan agreement totaling up to approximately 187 million U.S. dollars (JBIC portion) for the Khanom 4 gas-fired combined cycle Power Generation Project with Khanom Electricity Generating Company Limited (KEGCO), a Thai company in which Mitsubishi Corporation (MC) and Tokyo Electric Power Company, Inc. (TEPCO) have equity stakes indirectly. The loan, provided in project financing,*1 is cofinanced with Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Bank, Ltd., Bangkok Bank Public Company Limited and Oversea-Chinese Banking Corporation Limited. The overall cofinancing amount reaches the equivalent of approximately 622 million U.S. dollars.
     
  2. In this Project, KEGCO will build and operate a gas-fired combined cycle power plant with a capacity of 970 MW (485 MW×2), in Nakhon Si Thammarat Province, about 700 km south of the country's capital, Bangkok, and the electricity generated will be sold to Electricity Generating Authority of Thailand (EGAT) for 25 years. In southern Thailand, demand for electric power has been rising, and yet its supply is substantially dependent on the central region and import from Malaysia.
     
  3. In this Project, TEPCO provides technical support to the building, operation and maintenance of the power plant by sending its technical staff. The loan will, in addition to ensuring a stable supply of electricity to southern Thailand, support overseas deployment of business for Japanese companies, thereby contributing to maintaining and improving the international competitiveness of Japanese industry.
     
  4. Amid continuing fast economic growth in Thailand and other Asian countries, the prospect of increasing needs for infrastructure development is a major business opportunity for Japanese companies. As a public financial institution, JBIC will therefore continue to support overseas infrastructure business activities of Japanese companies, by drawing on its financial facilities and schemes for structuring projects and performing its risk-assuming functions.  
Note
  1. *1 Project finance is a financing scheme in which repayments are made solely from cash flows generated by the project and secured only on the project assets.

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