OIL firm PTT Philippines Corp., a subsidiary of Thailand oil giant PTT Plc., will invest P3 billion over the next five years to expand its service station network in the country.
Chavalit Punthong, senior vice president for PTT Plc.’s oil business unit, said that the amount will be allocated for putting up more service stations in the country starting this year.
PTT Philippines, he said, targets to put up an additional 70 stations within five years.
“We plan to put up 70 stations within the next five years with a total investment amounting P3 billion,” Punthong told reporters.
He said the new stations, most of them planned to be platinum stations, will be located mostly in Luzon and the Visayas.
PTT Philippines president and chief executive officer Sukanya Seriyothin said the company has started construction of a P200-million theme park concept service station along the Subic-Clark-Tarlac Expressway (SCTEX) in Concepcion, Tarlac.
The company recently opened its first platinum station, the P90-million one-stop service station in Lucena City in Quezon which also hosts non-oil establishments such as a convenience store, food shops and restaurants, and PTT’s signature coffee shop, the Café Jungle.
To date, PTT has 74 service stations mostly located in Luzon and in Cebu in the Visayas. After the Lucena station, other stations that are set to open will be located in Southern and Northern Luzon.
PTT has been in the Philippines for 18 years already, also operating in wholesale serving the aviation, maritime and mining sectors.
Meanwhile, Punthong said PTT is also in talks with their local partner about the company’s plan to put up a power plant.
“We are in the process of discussing with our prospective local partner, we have been talking,” he said.
PTT officials earlier said they are already scouting in Luzon for sites that could handle capacity ranging from 500 megawatts (MW) to 1,200 MW.
“We want more megawatts for the Philippines,” said Punthong.