Bangkok Co-Generation Company Ltd.

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The Bangkok Co-Generation Company. Ltd. is developing a 107-MW at Muang, Rayong at an estimated cost of Bht 2.5. billion (appoximately US$98.8 million). BCC is a joint venture of a subsidiary of the US company Air Products and Chemicals, Inc. Air Products Investment B.V.(47.90%); BIG, Air Products' Thai industrial gas joint venture (1.75%); Chatri Sophon Co. (15.31%, Thailand), Ltd.; Hua Kee Company, Ltd. (16%, Thailand), and Natsteel Ltd. (19.04%, Singapore). The plant will use one gas and one steam turbine, both of which were supplied to the project company by GE Power Systems. The plant will sell 90-MW of power to the Electricity Generating Authority of Thailand (EGAT) under the Small Power Producers (SPP) Program. The PPA was signed on July 23, 1996. The target operational date for the project is September 1, 1998. EGAT signed a "firm" contract with the project company, which sets nominal levelized tariffs at 1.60bht/Kwh. The remaining energy generated by the project will be used by the project company, and sold to the Industrial Gas Co. (21-MW). None None