Aug. 3--The Metropolitan Electricity Authority (MEA) is expected to receive cabinet approval within this year for its joint venture with PTT in a district cooling and power cogeneration project after a five-year delay, according to MEA governor Pornthape Thunyapongchai.

"We want to make this joint venture legitimate as we want this to help us train our skilled workers in new technology in power generation as well realise its benefits in terms of revenue as a second priority," he said.

The two partners agreed in 2005 to invest 750 million baht in the project, which will supply power to the new Chaeng Watthana civil service office complex, but the MEA has not yet gained approval from the cabinet.

Because of the delay, PTT has had to pay all expenses in advance instead of sharing expenses in accordance with the joint-venture shareholding.

"We cannot complete the joint venture with PTT due to political uncertainty and the global economic slowdown," he said.

The MEA agreed unofficially to join in a 50:50 firm with PTT. They had plans to build district cooling and cogeneration plants at other sites such as Chamchuri Square, as well as other high-density areas.

PTT had paid in advance for the development.

"We recently received approval from the Finance Ministry to join the business with PTT and within a few months the plan will receive approval from the cabinet," Mr Pornthape said.

The venture, with 150 million baht in registered capital, aims to expand to biomass and biogas projects in the future.

The MEA has also been diversifying into related businesses in order to increase revenues from existing assets, such as power consulting and power facility maintenance services.

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