PTT to invest 1.5 billion pesos in retail outlets in Philippines

PTT Philippines Corp. will invest 1.25-1.5 billion pesos (US$28.82-34.65 million) to expand the number of its retail outlets in five years. Two new receiving terminals, possibly one in Batangas in southern Luzon and another in northern Luzon, are also being planned, to improve the distribution system of the local arm of Thai oil giant PTT Public Co. Ltd. “We plan for 15 gas stations a year for the next five years. We would like to have the best volume for the gas station, so it is around 120 at the end of the next five years,” said PTT President and CEO Wisarn Chawalitanon. PTT expects to jumpstart its five-year expansion by building 20 new stations this year. The company will invest 250-300 million pesos (US$5.77-6.94 million) annually for the new gasoline stations, Chawalitanon said.
In Thailand, PTT operates some 1,200 stations and five refineries. Other units of PTT in the region are located in Singapore, Vietnam, Laos, Cambodia, Indonesia and Myanmar.