PTT to open Cebu depot

Thailand’s PTT Public Co. Ltd. has recently completed its 5-million-liter depot in Cebu and will start commercial operations in July, as a part of its Php3 billion (US$65.5 million) expansion program in the Philippines. The depot is part of PTTs international operations, which are expected to account for a fifth of the companys total revenues by 2012. Sukanya Jindanuwat, chief finance officer of PTT Philippines Corp., said the new depot would allow the PTT group to open four additional retail stations in Cebu province this year, on top of the first one that was opened in January. PTT is also actively involved in gas and petrochemical businesses in Vietnam, Laos, Myanmar, Malaysia, Singapore, Cambodia, Hong Kong and China. (July 2, 2007)