Thailand's PTT to Invest Bht 10 Billion in Five Years from Now

BANGKOK, June 28 (TNA) - PTT Public Company Limited, Thailand’s largest oil and gas conglomerate, plans to invest 10 billion baht in five years from now on improving its gas stations in Thailand and other ASEAN countries as it looks to penetrating the regional non-oil business segment too. Buranin Ratanasombat, vice president of PTT, said the plan would include opening up more gas stations in Laos to 60 from about 24 stations now, in the Philippines to 150 from 85 stations, and in Cambodia to 65 from 20 stations currently. PTT would also continue to conduct feasibility studies on the Myanmar market, which it said had not yet been liberalised. Currently, PTT has 1,400 gas stations in Thailand and plans to open another 65 new stations this year while closing some 30 stations whose leasing contracts are due to expire or those which are located in inappropriate sites. On investment in non-oil business, PTT would increase among other things, the number of Amazon coffee outlets after many Japanese and Singaporean businessmen had contacted to buy the franchise. Up to 1,250 Amazon coffee outlets had been opened in Thailand and this figure was expected to increase to 2,000 in the next five years. (TNA)