TOKYO Oct 3 Japan's Tokyo Gas Co said
on Monday it has taken a 28-percent stake in the operating
company of a 350-megawatt natural gas-fired power plant in
Thailand, marking its first foray into power generation in
The Tokyo-based city gas supplier said in a statement that
it had acquired the stake in Eastern Power and Electric Co from
Total Gas & Power Thailand.
It expects stable earnings due to a power supply contract
until 2023 with state-run Electricity Generating Authority of
A company spokeswoman said the purchase cost "several
billions of yen". One billion yen is about $10 million.
Eastern Power and Electric's Bang Bo power plant, about 50
km (30 miles) east of Bangkok, started commercial operations in
($1 = 101.4700 yen)
(Reporting by Osamu Tsukimori; Editing by Joseph Radford)