Thai oil firm PTT to invest P2.1-B in Philippines

ABS-CBN News

Posted at Dec 10 2013 04:22 PM | Updated as of Dec 11 2013 12:22 AM

MANILA, Philippines - Thai oil firm PTT Philippines Corp. (PTTPC) is allocating P2.1 billion for its 5-year expansion plan in the Philippines.

The expansion plan involves opening of 75 new service stations, including premier stations patterned after the design and standards of PTT Thailand.

PTTPC president and chief executive officer Wisarn Chawalitanon said the company will also invest in the renovation of existing service stations, additional depots and storage facilities, and setting up of coffee shops and convenience stores.

"Every year, beginning 2014, we will be opening up 15 new stations or a total of 75 new stations in five years’ time, so we will be more visible particularly in Luzon," Chawalitanon said.

PTT currently has 70 service stations in the Philippines, including 15 which were opened this year.

Seven more stations are being built and expected to open early next year.

This includes PTT's first "platinum" station, which is located in Lucena, Quezon. A platinum station is bigger in size in terms of land area covered and has one-stop-shop facilities.

"This is our premier station whose design has been patterned after our platinum stations in Thailand. It has a green environment setting that will make our stations different from other oil companies,” Chawalitanon said.

Two other platinum stations are being built -- PTT Manila East in Taytay, Rizal and the PTT Belfast in Fairview, Quezon City. Both will be opened in the first quarter of 2014.

PTT is looking at expanding its network in Visayas, especially Cebu.

"Our long-term plan is to also expand in Visayas and Mindanao but our thrust for now is to establish first our presence in Luzon. Once we succeeded on this, definitely we will be moving towards southern Philippines," Chawalitanon said.

PTT Philippines is a subsidiary company of Petroleum Authority of Thailand Public Company Limited.