BCPG takes over Asia Link Terminal
01.09.2023 By TankTerminals.com - NEWS

January 9, 2022 [Bangkok Post] – BCPG Plc, a clean power generation flagship of energy conglomerate Bangchak Corporation, has acquired all the shares of Asia Link Terminal Co, worth 9 billion baht, enlarging its investment in oil terminal and seaport projects.

 

Asia Link is a subsidiary of Pan Asia Storage & Terminal Co, a logistic services provider that has business footpaths across Asia.

The company reported to the Stock Exchange of Thailand on Tuesday that it purchased all shares at the par value of 100 baht per share.

Asia Link operated an oil terminal and seaport business in Phetchaburi province and could generate recurring income, said BCPG, which paid cash for the takeover.

The company entered into the share sale and purchase agreement on Dec 30, 2022.

BCPG chief executive officer and president Niwat Adirek said the acquired infrastructure could be developed to create business opportunities in the future.

BCPG expected to complete the transaction process for the acquisition around March, he said.

“Asia Link has a long term contract for oil storage with fixed monthly fees, so we foresee its potential support for related business activities in the future,” Mr Niwat said.

The latest asset acquisition came a month after Bangchak Corporation fully entered into the energy logistics business in supplying liquefied natural gas (LNG) to users whose production facilities were not covered by on-shore natural gas pipelines.

Pro Trial: Access 11,340 Tank Terminal and Production Facilities

11,340 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

U.S. Refiners Expect Russian Fuel Sanctions to Keep Margins High
02.02.2023 - NEWS
February 2, 2022 [Reuters] – The European Union’s ban on Russian fuel imports that be... Read More
Exxon Preparing to Open Its Massive $2B Refinery Expansion in Beaumont
01.30.2023 - NEWS
January 30, 2022 [msn] – Exxon Mobil said Monday it finished building its $2 billion refine... Read More
Valero Has Best Year Ever in 2022 as 4Q Profits Triple, Topping Wall Street Expectations
01.30.2023 - NEWS
January 30, 2022 [San Antonio Express News] – Valero Energy Corp. cruised past Wall Street ... Read More
Mobil Continues to Invest in Australia's Fuel Security
01.30.2023 - NEWS
January 30, 2022 [ExxonMobil] – Melbourne, Australia – Mobil Oil Australia Pty Ltd (Mobil... Read More