PTT Philippines is set to close the year with approximately 170 gasoline stations in the country, a ranking official said Friday.
“The vibrant Philippine market drives us to continue our expansion, especially in the regions,” PTT Philippines president and chief executive officer Thitiroj Rergsumran said.
“We are expecting 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,” the official said.
PTT Philippines plans to open approximately 40 stations in Luzon and the Visayas for the coming year.
Thitiroj earlier said PTT Philippines had earmarked about P500 million in capital expenditure for retail expansion involving 30 to 40 stations, adding to its 162 stations mostly located in Luzon.
“Our expansion will continue on both our oil and non-oil businesses and we are confident that we can achieve our growth because of the strong support from our head office in Thailand,” he said.
PTT Philippines has also been expanding its non-oil business—the Thai brand Cafe Amazon—which is part of the diversification of its parent company in Thailand, PTT Oil and Retail Business Plc.
Café Amazon originated in Thailand before expanding to other countries, such as Cambodia, Laos, Japan, Myanmar, Oman, Singapore, China and the Philippines.
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.
