The company will allocate THB800m ($26m) from its cash flow and THB1bn ($32m) will be met through bank loans.
AGE’s board has approved the formation of a new company with capital of $1m to concentrate on coal mining in Indonesia.
AGE managing director Panom Kuansataporn was quoted by bangkokpost as saying that as to the rumour that the Indonesian government may limit foreign investment in coal mines, nothing official has been announced by the government.
The company is already in discussions with nearly five coal mines in Indonesia and intends to proceed with its investment plan.
Asia Green Energy engages in coal trade in Thailand and global markets.
