Total Power Thailand, a wholly owned subsidiary of TOTALFINA, has acquired a 28% interest in a combined cycle power plant project in Thailand. Its partners in this project are Thai GMS Power (promoter and partner with 32%), Japan's Marubeni (28%) and Taiwan-based China Development Industrial Bank (12%).

The project is one of four concerning independent power production using natural gas selected by EGAT during a call for bids in 1995. It calls for the construction of a 350 MW gas-fired combined-cycle power plant in Bang Bo, located 40 km southeast of Bangkok, the country's main power consuming area. Construction will begin in early 2000, and the plant should begin to generate electricity for sale in early 2002.

The plant will be equipped with the latest generation, high-efficiency gas turbine. Later on, its capacity may be increased to 1,400 MW.

This investment fits in with TOTALFINA's development strategy for its downstream gas operations. It enhances the Group's position in Thailand, where TOTALFINA is already a major gas producer through its participation in the giant Bongkot field. Elsewhere in Southeast Asia, TOTALFINA operates the Yadana field in Myanmar, which channels a major part of its output to Thailand for power generation.