EGCO's board approved a loan guarantee for its associate, Thai Pipeline Network (TPN), amounting to approximately 4.992 billion baht, to secure TPN's financing. This approval followed a share restructuring in TPN where Modulus Venture, a PTT OR subsidiary, acquired a majority stake.
This transaction ensures the financial stability of TPN, a critical oil pipeline operator, and highlights the ongoing strategic alignment and financial support among state-linked energy entities in Thailand, given the Ministry of Finance's indirect ownership in both EGCO and TPN.
Fast Facts
Organizations Mentioned
EGCO
TPN
Biggas Technology
Modulus Venture
OR
Ministry of Finance
EGAT
PTT
SET