PTT to invest $3 billion in ASEAN

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Bangkok, July 17 2012  – Petroleum Authority of Thailand (PTT) is planning to invest 2-3 billion US dollars in ASEAN region within 5 years.

Chief Operating Officer, Downstream Petroleum Business Group, Mr. Nuttachat Charuchinda, has revealed that PTT is currently studying the company’s plan to invest in ASEAN in terms of opportunities and obstacles after the advent of ASEAN in 2015, given it will have many more rivals as well as several channels through which it will be able to expand its markets to countries such as the Philippines, Cambodia, Laos, Vietnam, Myanmar, and Indonesia.

The giant conglomerate has planned to build 220 gas stations in the ASEAN region, up from the present number of 95, within 5 years.

He added that the state-owned giant company is also planning to invest in petroleum complexes in 3 ASEAN countries, whereas Thaioil Company will assist the PTT in improving the latter’s 2-3 refineries in Indonesia. PTT is currently holding the largest share in Myanmar’s petroleum market, and is targeting to invest 358 billion baht in refineries, petrochemicals, coalmines, power plants, LPG, and gas stations.