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27 March 2006 - Japan's Mitsubishi Corporation is taking an 11 per cent stake in Thailand's Electricity Generating Public Co. (EGCO) from the Hong Kong power company CLP Holdings for an estimated 20 billion yen ($169.5m).

CLP currently has a 22.42 per cent interest in EGCO. This stock will be transferred to a 50-50 joint venture between CLP and Mitsubishi.

Mitsubishi plans to increase its ownership of overseas power generation companies and in Asia is planning to operate in partnership with CLP.

The state-owned Electricity Generating Authority of Thailand
(EGAT) owns 25.41 per cent of Ego's stock. EGCO has installed capacity of 2.4 GW of electricity, equivalent to 10 per cent of Thailand's generation capacity. It is also developing operations in other countries such as the Philippines and Laos.

EGAT itself is at the centre of a political storm in Thailand as plans by the country's Prime Minister Thaksin Shinawatra to privatize the company were thwarted by a court decision last Thursday.

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