PTT Philippines Corp. is set for a P5 billion five-year investment plan to further expand its reach and improve its current facilities.
The company’s president and CEO Sukanya Seriyothin said that the P5 billion capital expenditure covers their retail network expansion to 300 and the Amazon Café brand for the 2017 to 2021 period.
“Our previous capital [expenditure plan], we allocated P3 billion only but right now we would like to expand more,” she said.
The funding will come from PTT’s parent firm PTT Public Co. Ltd. in Thailand.
“We have strong financing from our mother company so no problem about our finance,” Seriyothin said.
The company will have 112 by the end of the year and plans to establish 20 more stations for 2017, marketing director Thitiroj Rergsumran said.
“Right now we’re studying [the market]. It depends on the study on when is the right time to enter the Mindanao market,” Rergsumran said.
The Thai firm is also eyeing small retail stations to serve the needs of communities away from major roads and highways.
The first compact station is set to roll out in Urdaneta, Pangasinan before Christmas.
“We will start before Christmas. We will take a look at this one first, and then we can plan [putting up further compact stations,” Rergsumran said.
PTT Philippines is also targeting to put up its signature coffee shop Amazon Café in some of its bigger gas stations in the same period, he said.
“We have to be concerned about the market also, a [surrounding] community that will support,” Rergsurman said. “Next year, we plan to have one station with one area enough to build Cafe Amazon.”