Thai Agro Energy Plc plans to file for a listing of its common shares with the Stock Exchange of Thailand by the third quarter next year, director for finance and business Somreudee Suwanroop told reporter.

She said the company determined to postpone its capital raising plan from this year to the next due to the ethanol and the Thai capital markets sluggishness.

“The market competition is pretty fierce at the ethanol production industry. We are in the process of ramping up investment in order to boost capacity in both terms of output and competitiveness,” Ms. Somreudee commented.

Thai Agro Energy is investing on a new production plant which is financed by lending sources. The company initially planned to fund its second plant using capital raised in the stock market. The decision has been shelved until construction is finished.

Thai Agro Energy currently has capacity of 200,000 liters per day using cassava as material for its main ethanol production.

The company plans to operate its second production line by the first quarter of 2011.

It predicted net income for 2010 will be at the same level as of 2009 due to higher material costs.

Thai Agro Energy plans to sell 200 million shares in the initial public offering (IPO). Pricing has yet to be set.