PTT continues Philippine expansion

MANILA, Philippines — PTT Philippines Corp., the local unit of Thailand’s largest petroleum company, will continue the expansion of its oil and non-oil businesses on the back of the country’s growing economy.

It is eyeing to open around 40 stations in Luzon and Visayas next year. 

The company is expected to close the year with about 170 gasoline stations, PTT president and chief executive officer Thitiroj Rergsumran said.

Apart from the retail stations, PTT Philippines is also expanding its non-oil business – the Thai brand Cafe Amazon, which is part of the diversification of its parent company in Thailand, the PTT Oil and Retail Business Plc.

“The vibrant Philippine market drives us to continue our expansion, especially in the regions,” Rergsumran said.

“We expect to duplicate our target next year, so you could expect us to be more visible in various areas in the Philippines especially in the provinces,” he said.

Phoenix had spent P500 million to expand its oil and non-oil business, bulk of which was allotted to put up more gas stations and around P80 million for the expansion of coffee chain Café Amazon. 

Café Amazon has originated in Thailand before expanding to other countries such as Cambodia, Laos, Japan, Myanmar, Oman, Singapore, China, and the Philippines. 

PTT Philippines diversified into the coffee business in 2016.

Currently, it has more than 2,500 stores in Thailand, making it the country’s market leader in out-of-home consumption with more than 200 shops overseas.

PTT has been in the Philippines for more 20 years and is also into the fuel retail business with 122 service stations spread across Luzon and in Central Visayas.

Its wholesale business also serves the maritime industry.