Somsak, leader of the ruling Thai Rak Thai Party's Wang Nam Yom faction, said political parties were well connected and were aware of factional movements, so he knew about the formation of Snoh's party.

Somsak said Prachai Leophairatana, the businessman who set up the financially-troubled Thai Petrochemical Industry Plc (TPI), would play a key role as the Pracharaj Party's secretary-general.

"Snoh and Prachai have a lot of experience. I bless them and wish them success in politics," he said.

Snoh, who once served as Thai Rak Thai's chief adviser, left the party after a severe conflict with party leader Thaksin Shinawatra.

The Pracharaj Party is due to be launched today. The party's executive team and policy platform will be introduced at the TPI building.

Prachai said the party had already begun selecting candidates to run in the October 15 election.

The deputy leaders of Pracharaj will be Pramuan Ruchanaseree, Bunthueng Pholpanich and Chucheep Hansaward. All are close aides of Snoh.