The Superboard of state enterprises of Thailand has agreed to allow the launch of a 20-billion baht (US$608.6 million) infrastructure fund for the Electricity Generating Authority of Thailand (EGAT).

This would be the first fund launched by a state enterprise in Thailand.

The fund, which is expected to submit its initial public offering (IPO) application to the Securities and Exchange Commission by the year-end, will be backed by income for over 20 years from EGAT's North Bangkok power plant.

Kulit Sombatsiri, director-general of the State Enterprise Policy Office, said after meeting the State Enterprise Policy Commission:

"The IPO will open for subscription within the first quarter of next year."

The State Enterprise Policy Commission also agreed to improve the public-private partnership law to make it more transparent and to make private firms feel comfortable on infrastructure development.

Investors lately complainted that the law still presents obstacles even after it was amended last year. The Commission said that related agencies will be invited to discuss improvements, with amendments to conclude by the first quarter of 2015.

Kulit also said Airports of Thailand and Expressway Authority of Thailand would launch similar funds.