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Plans to Buy Power Plant in Thailand Scrapped.
Sep. 4--Banpu Plc says it has scrapped negotiations to purchase a power plant from Thai Petrochemical Industry, citing ongoing internal conflicts within the industrial conglomerate.
Chanin Vongkusolkit, Banpu's chief executive officer, said the company had sent a formal letter to TPI cancelling the purchase talks.
"We do not want to get involved in the internal problems [at TPI]. Talks are unlikely to go forward so long as the situation remains like this, " Mr Chanin said.
"We believe that we have experience in the power industry. But if we go in, and some executives don't agree [with the purchase], well, we don't want to take the risk."
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