Panjapol Fiber Container Co. Ltd.

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Panjapol Fiber Container Co. Ltd. is developing a 150-megawatt coal fired plant, with primary sponsors as the Hiang Seng Fibre Container Co and Marubeni. A power-purchase-agreement of uncertain length was approved in July 1997 with the Electricity Generating Authority of Thailand (EGAT) to sell 90-MW of the plant's output. The remaining 60-MW will by used in-house. The primary contractor is Mitsui Engineering and Shipbuilding. The project will be 100% financed by a loan from Marubeni. The plant is being developed under the Small Power Producer (SPP) Program that encourages the sale of excess output to EGAT. The project is expected to become operational during 1999. An existing 24.5-MW of on-site capacity was purchased from Marubeni/Mitsui in 1996. The project cost is estimated at bht 17.0 billion. In April 2000, EGAT terminated its power-purchase agreement without giving reason for the cancellation. The project had not begun construction despite having gained approval several years earlier. None None