PTT is expanding PHL operations

BANGKOK, Thailand- Conglomerate PTT Public Company Limited Thailand has set its sights to build 300 gasoline stations in the Philippines by 2020, the bulk of which will be in the Visayas and Mindanao.

More than 100 gas stations are set to be constructed and bring PTT's Philippines presence to at least 200 stations by the end of 2017.

The Thai oil firm currently operates 96 stations in Luzon and Cebu.

The planned 104 stations entails P4 billion of foreign direct investment in the Philippines.

Wisarn Chawalitanon, PTT vice president for International Marketing, said the conglomerate is also mulling over a venture with realtor Filinvest Development Corporation, which will be an undertaking of its subsidiary PTT Philippines.

“The (Thai) government has given us permission to invest the funds… Our president has ordered us to invest in a foreign country and the direction is quite clear now where we should invest.” Chawalitanon told foreign media in this city.

PTT has retail exposures in Cambodia, Laos, Vietnam, and Myanmar but has established a solid base in the Philippines for international operations.

“Our Domestic stock has been on an uptrend the last five years and the Philippines will play a big role in our investments for the next five years.” Chawalitanon noted.
He said the deal with Filinvest will satisfy Philippine requirement that does not allow foreign individuals and businesses to own land.

“We agree with the policy of the Philippines not to allow foreigners to own land. It is the same here (in Thailand). It’s not good because there are very rich economies (in the region) that can buy land entirely (in developing) countries and irreversible displacement (of people and business) can happen,” he added.

Before the end of June, PTT is opening its 2-hectare complex along the Subic-Clark-Tarlac Expressway in Concepcion, Tarlac. The P200-million gas station and commercial complex is part of the oil company's international retail expansion.

The company is also building a Platinum Station in Lucena City, reflecting the latest service station concept in Bangkok accented with parks and restaurants.

“Thailand is expressing its confidence in [the Philippines'] economic performance. We are setting realistic targets in the Philippines,” Chawalitanon said. – VDS, GMA News