FORTUM CONCLUDES THE SALE OF ITS SHAREHOLDING IN THE HIN KRUT PROJECT IN THAILAND

Fortum has concluded the sale of its 17.46% shareholding in the 1400 MW Hin Krut coal-fired power plant project currently being developed by Union Power Development Company (UPDC) in Thailand. The deal has also been approved by the Thai authorities.

 

Fortum withdrew from the project development already in February 2000 as a part of its strategy to concentrate its power production to the Nordic and Baltic rim area. The sale of Fortum´s shares including all its interests in the project has now been finally concluded. The new shareholders of UPDC are Tomen Corporation, Chubu Electric and Toyota Tsusho from Japan, Union Energy from Thailand and Hongkong Electric.

 

Fortum continues as a provider of tailored energy solutions to industrial customers in selected Asian and European markets. For this purpose Fortum has established a new Business Unit called Fortum Energy Solutions (FES).  FES aims to enhance its customer´s economic and environmental performance through a combination of management, technological and financial expertise in the offered solution.

 

Fortum Corporation

Corporate Communications

 

For further information, please contact:

 

Mr Eero Auranne, President, Fortum Energy Solutions, tel. +358 10 45 33420

Mr Ari Henriksson, Manager, Fortum Energy Solutions, tel. +358 10 45 33525