EGCO to buy RI coal

Wed, 29 Jul 1998 | Source: REUTERS

EGCO to buy RI coal

BANGKOK (Reuters): Thailand's Electricity Generating Plc. said yesterday its mining unit will sign a memorandum of understanding (MOU) with Indonesia's state-run coal producer PT Tambang Batubara Bukit Asam.

In a statement to the Stock Exchange of Thailand, Electricity Generating said its EGCO Mining Co. Ltd. would sign an MOU with the Indonesian firm on Wednesday to help secure South Sumatran coal for power producers and industrial users in Thailand. No further details were immediately available.

Electricity Generating's stock lost 0.50 baht to 58.50 baht (US$1.43) on the Thai bourse by the lunchtime recess yesterday.

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