Bangchak Corporation has completed the purchase of an oil storage facility located in Phetchaburi, Thailand. The transaction was valued at approximately 9 billion Thai Baht, which converts to roughly $250 million USD.
The company has stated that the acquisition was conducted with adherence to good governance principles. This includes ensuring the valuation of the asset was fair and transparent throughout the process.
This acquisition is expected to increase Bangchak's overall storage capacity for petroleum products. The facility's strategic location in Phetchaburi is anticipated to play a role in its logistical operations within Thailand.
