Strega wins to acquire 3,300 million pipeline transit oil pipeline
On January 13, 2007, TRITON reported that Strega Public Company Limited ("STREGA"), a wholly-owned subsidiary, holds 84.21% Signed the NFPT contract with Fuel Pipeline Transportation Limited (FPT), which has invested in the construction and management of the pipeline. The project value is 3,300 million baht, which is the project that FPT intends to construct the pipeline system from Bang Pa-in Oil Terminal, Bang Pa-in, Phra Nakhon Si Ayutthaya Province. This is the beginning of the Northern Pipeline Transportation (NFPT) project to transport oil via pipeline to Lampang Oil Depot. The construction period is 568 km, with the construction of open cut and Horizontal Directional Drilling (HDD). It will be completed 24 months.
The signing ceremony took place on the morning of Jan 12th. By M.R.Supadis Diskul and Mr.Charoen Charusalpong. Authorized Signed as a representative of Fuel Pipeline Transportation Limited (FPT), the signatory of Strega Public Company Limited consists of Mr. Harold Arnold Wentworth, Mr. Stephen James Bush And Mr. Prasert Trongcharoenkiet Direct Authorized
Today, oil transportation to various regions of the country utilizes transportation through railways, ships and trucks which has a high cost, power consumption. It causes traffic and environmental problems, and there is a risk of accidents. From the government's strategies and policies towards spatial development, there is a systematic linkage. This results in increased fuel consumption. The Department of Energy Business has conducted studies to promote the expansion of the pipeline system to the North and the Northeast to enhance the country's transportation efficiency.
The project is divided into 2 phases: Phase 1: Construction of oil pipeline system from Bang Pa-In Oil Depot, Phranakhon Si Ayutthaya and Phase 2: extend the pipeline from Kamphaeng Phet to the highway line of the Department of Highways and the Department of Rural Roads.
The signing of the NFPT agreement with Fuel Pipeline Transportation Limited (FPT) is another success story for the new management team, which will see STREGA and TRITON turn to profitability in 2017. At the same time, TRITON has also appointed Mr. Natthanai Inthasukrasri to be the director and Chairman of the Audit Committee. Instead of Mrs. Churairat Panyarachun who resigned with effect from January 12, 2017 then the two sides have resolved temporary problems together with the delivery of passes to the Cambodian people to travel to Rong Kluea Market without thinking to solve the problem. The Cambodians are happy to hurry to pick up a pass at the Cambodian side to travel to Thailand as usual Thus, the atmosphere at the frontier border Aranyaprathet start to loosen and enter normal since today's call.