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PTT allots P500M for RP expansion

Thai oil firm PTT remains bullish in its investment in the Philippines with more than P500-million allocation for its continuing expansion in 2018 for both its oil and non-oil business in the country.
PTT Philippines president and chief executive officer Sukanya Seriyothin said investment spending for 2018 will go primarily to the opening of more than 30 gasoline stations and about 12 Café Amazon stores in various parts of country, particularly in Luzon.
“We remain confident on the business climate in the Philippines that’s why from 20 stations that we targeted this 2017 which we actually exceeded, we are targeting more than 30 stations next year,” Seriyothin told select business reporters in a conference.
PTT now has a total of 120 stations in the Philippines, 15 of which are in Metro Manila and the rest are in other regions in Luzon. In the Visayas, PTT has 15 stations.
Meanwhile, apart from gasoline stations PTT is also expanding the PTT-owned coffee chain Café Amazon which has six stores in the country by end of the year.
Following its diversification into coffee business, PTT started investing in the Philippines to complement its more than 1,850 stores in Thailand and in other parts of Asia, including one in Japan.
PTT opened its first Café Amazon in the Philippines last quarter of 2016 at PTT’s largest service station, the two-hectare PTT-SCTEx.
“By end of this year, we will have a total of 6 stores that are fully operational,” marketing director Thitiroj Rergsumran said, adding that 12 more stores are expected to open next year. 

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