PTT Plc has chosen a Marubeni and Itochu joint venture to supply a natural gas pipeline, the energy giant said on Thursday.
Marubeni-Itochu, a joint venture between Japanese companies Marubeni and Itochu, won bids to supply state-controlled PTT with its fifth natural gas pipeline, Chavalit Punthong, chief operation officer, infrastructure and sustainability management group, told reporters.
He said the pipeline will stretch 430 kilometres from Rayong to Nonthaburi, just north of the capital Bangkok.
The pipeline project is expected to cost 99 billion baht and will be completed by 2020.
PTT shares on Thursday fell 0.52% baht to 383 baht in trade worth B1.4 billion baht, compared to a 0.26% decline of the broad SET index.