Sarut Ruttanaporn, Chief Executive Officer of Siam Commercial Bank Public Company Limited (SET: SCB), revealed that the bank has partnered with PTT Public Company Limited (SET: PTT) to advance the country’s energy infrastructure. SCB is supporting the PTT Group with credit facilities totaling over THB 68 billion.
These facilities comprise:
1) A long-term credit line worth THB 17,376 million to support the operations of Tank Infra Co., Ltd. (a wholly owned subsidiary of PTT Tank Terminal Co., Ltd. or PTT Tank), aligned with the Asset Monetization strategy. This strategy aims to optimize asset management within the group, enhance business agility, and create opportunities for access to funding sources and commercial collaborations both domestically and internationally.
2) A short-term credit facility worth THB 51 billion to aid in maintaining national energy security amid the ongoing instability in the Middle East, which continues to significantly impact global crude oil price volatility.
Sarut stated that this financial support is strategically vital and reflects SCB’s confidence in PTT’s capacity to adapt and grow within the transforming energy sector. In particular, the collaboration targets the transition to future energy, development of energy infrastructure under the “Infrastructure Flagship” plan, and responding to rising and diversifying energy demand within a landscape shaped by increasing demand, global market volatility, and a transition to new energy formats.
The partnership between SCB and PTT highlights the synergy between the two organizations. SCB acts as a financial ally supporting strategic growth, while PTT continues as a central driver in advancing national energy infrastructure to efficiently and sustainably meet future energy needs.
Dr. Kongkrapan Intarajang, President & CEO of PTT, commented that PTT Group’s Asset Monetization strategy aims to maximize the utilization of group assets, create synergy for asset and capital optimization, unlock asset value, and establish a new energy infrastructure business model. PTT remains committed to its role in securing national energy stability and developing infrastructure to support the transition to clean energy, ensuring balance for all stakeholders.
