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Thai BTS Group to set up $1.6 bln infrastructure fund
November 9, 2012 / 10:22 AM / 5 years ago

Thai BTS Group to set up $1.6 bln infrastructure fund

BANGKOK, Nov 9 (Reuters) - Bangkok’s Skytrain operator, BTS Group Holdings Pcl, said on Friday it planned to set up an infrastructure fund worth at least 50 billion baht ($1.6 billion) as it needs funding for expanding mass transit lines.

BTS planned to transfer revenue from the Skytrain to the fund and expected it to get net fare revenue of about 50-60 billion baht ($1.6-1.95 billion), it said in a statement.

The company aimed to subscribe to one third of the fund itself, and the proceeds from the unit sales would be used to invest in four mass transit routes, it said.

The Skytrain is run by Bangkok Mass Transit System Public Co Ltd (BTSC), a direct subsidiary in which BTS holds a 96.44 percent stake.

$1 = 30.65 Baht Reporting by Khettiya Jittapong

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