Giant PTT To Invest US$900M More on Local and Overseas Business

• Sommana Yan
• 30 March 2023
• International News
• 3074 Views

Thailand PTT Oil and Retail Business Pcl, a leading oil and gas retailer, has revealed plans to invest $900 million this year to expand its local and overseas business. The announcement was made by Chief Executive Officer Disathat Panyarachun, as reported by Bangkok Post on 28 March 2023.

According to Disathat, approximately 45% of the budget will be allocated to expanding the company’s Cafe Amazon coffee house franchise and Texas Chicken fried chicken chain. Another 22% will be used to expand PTT’s gas and electric vehicle (EV) charging station network. The company already operates over 2,100 gas stations, 300 EV charging stations, and approximately 3,900 coffee shops.

“In 2023, PTT plans to add 122 gas stations, 400 coffee shops, and 500 EV stations both domestically and internationally,” he added.

This move is in line with PTT’s expansion strategy to diversify its business portfolio beyond oil and gas. With the increase in demand for EV charging stations, PTT has recognized the opportunity to invest in this area to cater to the growing trend of eco-friendly transportation.

In addition, expanding its coffee house franchise and fried chicken chain is a way to diversify the company’s revenue streams and increase its market share in the food and beverage industry.

The $900 million investment shows PTT’s commitment to expanding its domestic and international business, and it is expected to contribute to the company’s long-term growth.

• Business and Market