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Thailand’s Rainbow Power Consortium Proposes $2 Billion Investment in Response to Nigeria’s Power Collapse, an

Posted on: วันอาทิตย์,12 ตุลาคม, 2008

JOHANNESBURG, SOUTH AFRICA, Jul 24 (MARKET WIRE) —
Researched by Industrial Info Resources (Sugar Land, Texas) — Rainbow
Power Limited (Bangkok, Thailand), a consortium made of companies Rainbow
Energy Limited, PTT Public Company Limited (BAK:PTT) (Bangkok) and
Transglobal Energy Funds (Singapore), has proposed a $2 billion
investment, depending on federal government approval, into the power,
gas, petrochemical and agriculture sectors of Nigeria. Rainbow Power
Limited would benefit by being able to acquire 20% of Nigeria National
Petroleum Corporation’s (NNPC) (Abuja) shares in Brass LNG (Lagos), the
Nigerian liquefied natural gas producer and supplier, as well as a
minimum of 20% of Brass LNG’s production to help provide for Thailand’s
gas needs. Currently NNPC holds 49% of Brass LNG, while ConocoPhillips
(NYSE:COP) (Houston, Texas), ENI (NYSE:E) (Milan, Italy) and Total
(NYSE:TOT) (Paris, France) hold 17% each.

http://www.reuters.com/article/pressRelease/idUS109383+24-Jul-2008+MW20080724

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