PTT plans to open more gas stations in ASEAN

BANGKOK, 22 June 2011 (NNT) – PTT Plc is targeting to expand the number of gas stations within ASEAN in the hope of becoming a leading oil retailer of the region upon the establishment of the ASEAN Economic Community (AEC).

PTT President and CEO Prasert Bunsumpun revealed that the company had a plan to launch additional stations in neighboring countries, such as Laos and Myanmar, both with its own investment funds and through joint ventures with foreign partners.

At present, there are 5-10 PTT stations in Laos; however, the company is aiming to increase the number to 40-50 within the next 3-5 years as the country is deemed as an emerging gateway to other ASEAN nations. As for Myanmar, Mr Prasert said the nation had been more welcoming of foreign investments and PTT was currently conducting a review on its business strategy.

With a total budget of at least 1 billion THB, PTT will strive to become the leader in the oil business of ASEAN as soon as the AEC comes into being in 2015. The company has set its eye on acquiring the second highest market share after a local competitor in each country.