True to set up infrastructure fund in Thailand

23 July 2013 | Kavit Majithia

Thai telecoms company True Corp has today said it will set up an infrastructure fund worth approximately $2.25 billion.

The company said it was looking to strengthen its financial position as a result, while also aiming to reduce its debt load. “The fund is for repaying debt and investing in the company’s new projects in the future,” True said in a statement.

True is owned by Thailand’s richest man, Dhanin Chearavanont, and is the flagship company of the Charoen Pokphan Group.