Bangkok Bank supports 3 KSL projects valued at more than Baht 8 billion

Bangkok Bank is providing Baht 8,134 million of financial support to Khon Kaen Sugar Industry (KSL) to invest in 3 new projects at Bo Ploy District, Kanchanaburi Province.


Bangkok Bank Senior Executive Vice President and Head of Corporate Banking, Chansak Fuangfu, said Bangkok Bank has signed an agreement to provide loans of Baht 8,134 million to Khon Kaen Sugar Industry (KSL) and its subsidiaries, including New Krung Thai Sugar Factory Co., Ltd., Khon Kaen Sugar Power Plant Co., Ltd and Khon Kaen Alcohol Co., Ltd.

Mr. Chansak added that under the loan agreement, New Krung Thai Sugar Factory Company will use the funds to relocate its sugar mill from Tamaka District to Bo Ploy District, Kanchanaburi Province, and expand its production capacity, from 8,385 tons of cane per day (TCD) to 20,400 TCD. The sugar from this factory will be distributed to large food and beverage manufacturers in Thailand and other countries as a key ingredient of their products. Major export markets are Indonesia, Japan, the Philippines, Russia and China.

In terms of alternative energy investment projects, the Khon Kaen Sugar Power Plant Company will build its second plant with an electricity production capacity of 90 MWH using biomass and biogas as raw materials. The company will sell electricity and steam to the Electricity Generating Authority of Thailand and KSL’s subsidiaries.

The third and final project under this agreement is Khon Kaen Alcohol Company’s construction of a second plant. This plant will produce up to 200,000 litres of ethanol per day from molasses and other waste products from sugar production process. Ethanol is mixed with gasoline to make the vehicle fuel, gasohol.

“KSL Group’s investments increase sugar productivity and add value to the by-products of sugar manufacturing,” concluded Mr Chansak. “The company’s investment in value-added projects also supports the government’s energy and environmental policies. Sugar production is one of Thailand’s core industries and Thailand is the second-largest sugar exporter after Brazil, exporting mainly to countries in Asia.”