Thailand’s PTT allots P1.5 billion for Philippine expansion

MANILA, Philippines — The local subsidiary of Thailand’s PTT Oil and Retail Business Public Co. Ltd. is spending over P1.5 billion to further strengthen its foothold in the Philippine market.

In a press briefing yesterday, PTT Philippines president and CEO Athiwat Rattanakorn announced the company’s plan to build over 100 fuel stations nationwide in a bid to increase its market share.

Of the planned investments, about P500 million is earmarked for station expansion in hopes of having at least 280 outlets by 2030.

PTT Philippines, Rattanakorn said, likewise intends to expand its coffee chain Cafe Amazon as well as put up electric vehicle charging hubs and solar power systems across its fuel stations.

“Because we believe in Filipinos and the untapped market in the Philippines, we are pouring in more investments in this country,” he said.

At present, PTT Philippines has 140 fuel stations across Luzon and another 30 in the Visayas, particularly in Cebu.

“For the new stations, we are looking (to build) mostly in Luzon and Cebu, but we are also looking to invest in (other locations) such as Davao,” PTT Philippines supply and logistics director Apichate Thipphayakosai said.

The company recently launched its new line of high-performance fuels aimed at offering more efficient and engine-friendly products to the mobility market.

This new fuel line includes Power+ Gasoline, Eco+ Gasoline, Ultra+ Diesel and Save+ Diesel.

“This is going to redefine high-performance fuels as they are intended to improve driving experience not only in terms of mileage but also the cleaning and protection formula for the engine to last longer,” Rattanakorn said.

“Combining latest technologies and high-quality components, our transition from the blue innovation formula to this new product line was part of our continuing drive on fuel innovation,” he said.

Besides the Philippines and Thailand, PTT has presence in Saudi Arabia, Myanmar, Japan, Laos, Malaysia, Cambodia and Vietnam.