Announcement of Twenty-Seven Million US Dollars Electric Power Loan to Thailand on November 11, 1971

I NTERf~AT'IQf,JJ\ • RECOf\\S-rF< 1818 H STREET, N.W., WASHINGTON D. C. 20433 TEl':·~HONE: EXECUTIVE 3-6360 Bank Press Release No. 71/83 Subject: $27 .O million electric power November 11, 1971 loan to Thailand Robert s. McNamara, P~esident of th~- World Bank, today signed documents in Bangkok for a $27 .O million loan to assist Thailand's on-going power expansion program. Mr. McNamara is currently on a trip to a m.unber of Asi~n countries. The loan is the World Bank's s~~xth for Thai power project,.~· and will help finance a $43.1 million project to install a 310-mega~tat:t, oil-fired thermal generating unit at the South Bangkok power station. It brings Bank lending for power and power-irrigation projects in Thailand to $130.l million. The unit to be installed is the fourth of five base-load units planned • for the South Bangkok station, which will have a capacity of 1,500 ,piegawatts when in full operation. The Bank also helped finance the third unit at South Bangkok. Power consumption has grown rapidly in Thailand, averaging 27% annually since 1961. A continued, but slower rise in demand is expected in this decade -- increasing from about 925 megawatts this year to about 2,115 mega- watts in 1977. The current project is part of a $544 million, six-year program to ,expand generating, transmission and distribution fadilities to meet anticipated' demand and provide adequate reserve_ ~epl:lcity. The Bank loan is bein~· made to, tll~ E~ectricity Generating Authori~iY of Thailand (EGAT) and is guaranteed by the Ki~gdom of Thailand. It is for ,,. 20 years, including a five-year grace period\:~ at 7~ interest per annum. i One Japanese and seven United States fir\ancial institutions are partici- pating in the World Bank loan for a total amount of $701,000 equivalent. The~ are: The Northern Trust Company, Chicago; The Riggs National Bank, Washington, D.C.; The Tokai Bank, Ltd., Nagoya; Central National Bank of • Cleveland; Detroit Bank and Trust Company; First City National Bank of Houston; First Wisconsin National Bank of Milwaukee; and Industrial National Bank of Rhode Island, Providence. - 0 -  t • November 11, 1971 TECHNICAL DATA PROJECT: Electric Power COUNTRY: Kingdom of Thailand TOTAL COST: $43 .1 million BAJ.\"K FINANCING: $27.0 million, 20 years, 5 years of grace, 7~% interest. OTHER FINANCING: Internal cash generation, loaltS and credits. IMPLEMENTING ORGAliIZATION: Electricity Gene:r-a:t::ing Authority of Thailand (EGAT), Non.thabur,i, Thailand; Cable address: EGATNONTHABURI. PROJECT DESCRIPTION: Acquire and install a 310-megawatt oil-fired thermal ~ generating unit {Unit No. 4) and related e~uipment as part of Thailand's long-term power expansion program. EQUIPMENT A.~D SERVICES: Civil works, boiler and auxiliary equipment, turbo- generator and auxiliary equipment, auxiliary electrical equipment, extension of switchyard, engineering and consultant services. PROCUREMENT PROCEDURES: Civil works to be carried out by EGAT; gener.-iting uni.t to be obtained from Japanese suppliers under option included in bids for Unit No. 3; control equipment from U.S. suppliers under similar option; other equipment to be obtained under international competitive bidding except minor components required to be compatible with equipment now in use or on order. CONSULTANTS: Black and Veatch, United States -- the consultants on first three South Bangkok power station units. ESTIMATED COMPLETION DATE: Early 1976. - 0 - •