PTT to invest in more depots in RP

PTT Philippines Corp., the local subsidiary of PTT Public Co. Ltd. of Thailand, is looking at other areas as sites of additional fuel tanks and depots aside from Cebu, as part of a multi-billion peso investment plan in the Republic of the Philippines (RP) and Thailand. “PTT is already looking for another location in the areas of Luzon, Batangas and Manila Bay to put up modern fuel tanks and depot with full automation and the latest international standards in protection of the environment—-probably the first in the Philippines,” PTT Philippines Chairman Artasith Pothianpinyanvisuth said. Artasith also added that the company planned to go into more energy-related businesses in the country in answer to Manilas call for more RP-Thai investments. (July 31, 2007)