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.
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EGCO approved a loan guarantee of up to 4.992 billion baht for Thai Pipeline Network (TPN) to support its oil transportation business.