PTT Oil and Retail Business (PTTOR) is to be heavily involved in two important investment partnership projects that were officially announced on Monday in Myanmar.
The “Partnership Celebration for the Oil Terminal and Retail Business Development” between PTTOR and Brighter Energy Company Limited and Brighter Energy Retail Co Ltd, both subsidiaries of Kanbawza (KBZ) Group, was held at the Lotte Hotel in Yangon.
PTTOR chairman Auttapol Rerkpiboon said his company – the flagship of PTT Group in oil and retail business – aimed to be a leading Thai global brand enriching community values through oil, retail and related businesses, inclusively with all stakeholders to achieve sustainable growth together.
The agreements announced cover two joint projects.
One is the development of an oil terminal with Brighter Energy, which includes the procurement of petroleum products, the management of jetty, oil-storage terminal, liquefied petroleum gas (LPG) filling plants and wholesale business of petroleum products.
Due to be completed in 2021, the project will become the largest oil terminal in Myanmar, with a capacity of one million barrels of oil and 4,500 tonnes of liquefied petroleum gas.
The other project is a retail business expansion with Brighter Energy Retail, for which successful brands under PTTOR will be introduced in Myanmar to provide local consumers with what Auttapol said would be a “notable retail experience”.
These brands include PTT Station, LPG or Cooking Gas, and Cafe Amazon.
He added that the concept of the joint operation of PTT stations in Myanmar remained the “Living Community”, as in Thailand where PTTOR cooperates with local vendors, communities and small and medium-sized enterprises to grow their businesses together with PTT station expansion.
In Myanmar, the company plans to expand to 70 stations within 2023, PTTOR’s chairman added.
Currently, PTTOR operates over 2,000 PTT stations in Thailand, Cambodia, Laos and the Philippines.
As for the LPG or Cooking Gas unit, PTTOR will tap the local market highlighting product quality and safety, with a sales target of 1,000 tonnes per month.
In addition, PTTOR will focus on the operation of Cafe Amazon and expects the business to substantially grow in line with rising coffee consumption among the Myanmar population.
In Myanmar, there are currently seven branches, and the company plans to increase to 100 branches by 2023.
Cafe Amazon now has more than 2,800 branches in Thailand, Myanmar, Cambodia, Laos, the Philippines, Japan, Singapore and Oman. THE NATION (THAILAND)/ASIA NEWS NETWORK