Bangkok Bank and China Development Bank (CDB) have provided $247 million greenfield financing for an oil pipeline project. The project includes a 343-kilometre long fuel pipeline that will cover five provinces from Saraburi province to Khon Kaen province and associated storage facilities in the latter.
This project was jointly developed by Thai Pipeline Network (TPN) and Biggas Technology (BT), a subsidiary of Power Solution Technologies Power. Financial close of the transaction is expected to occur by early October this year.
Acting as Thai lender’s counsel to Bangkok Bank and CDP was a Chandler MHM team led by partners Jessada Sawatdipong and Joseph Tisuthiwongse. Ashurst was UK law counsel to the banks. Baker McKenzie Thailand represented the borrowers and sponsors.