EGCO-PSTC JV Signs the ฿7.3Bn Loan Agreement for Construction of Petroleum Pipeline

EGCO-PSTC Joint Venture Sign the ฿7.3Bn Loan Agreement to Fund the Construction of Petroleum Pipeline

The Electricity Generating Public Company Limited (EGCO) announced that on September 21, 2020 Thai Pipeline Network Company Limited (TPN), the joint venture company which EGCO owns 44.6% stakes and Power Solution Technologies Public Company Limited (PSTC) owns 55.4% stakes through its subsidiary Biggas Technology Co., Ltd. (BIGGAS), entered into the financial agreements with Bangkok Bank Public Company Limited (BBL) and China Development Bank in the aggregate amount THB 7,800 million with 14-year tenure to fund the development and the construction of the extension of petroleum pipeline system to northeastern region project.

The Project possesses a 342.8-kilometer underground pipeline extended from the petroleum pipeline system to the northeastern region with an annual transport capacity of approximately 5,443 million liters, potentially increasing to 7,330 million liters in the future. 

 

As such, the Project connects the Thai Petroleum Pipeline Co., Ltd (Thappline) Terminal in Saraburi to TPN’s owned terminal with storage capacity of 142 million liters in Khon Kaen. 

 

Currently, the Project is under construction with the approximate progress upon completion of 48.11% and expected to start operation in the fourth quarter of 2021.

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