PTT to invest Php3-B for more gas stations

MANILA, Jan. 18 (PNA) -– PTT Public Company Limited (PTT PLC) will invest Php3 billion to put up 70 gas stations in the country in the next five years.

Company Oil Business Unit Senior Executive Vice President (SEVP) Khun Chavalit Punthong said most of the gas stations will be located in Luzon.

Punthong said bulk of these are huge ones depending on size of lots the company can acquire.

PTT currently has 74 stations based in the Luzon region and the Cebu province, with the Platinum station in Lucena City, Quezon currently the biggest one.

PTT Philippines President and Chief Executive Officer (CEO) Khun Sukanya Seriyothin said the biggest one in the pipeline is its two-hectare Subic-Clark-Tarlac Expressway (SCTEX) station, with an estimate cost of Php200 million.

Seriyothin said PTT expects its sales volume growth will be around 20 to 30 percent year-on-year, citing an increase of one billion liters worth Php35 billion of gasoline.

Meanwhile, Punthong said the oil price drop is not expected to curb sales as this will rather encourage more consumption.

”Our estimate that the margin will not really affect us, but people will consume more when the price goes down,” he said.

Moreover, Punthong bared that the company plans to venture more into the power business in the Philippines, stressing it really wants to put up some megawatts (MWs).

”We are under the process of discussion with our prospective partner here… We really want to put some megawatts. We want more megawatts in the Philippines,” he said.

PTT Philippines Corp. (PTTPC) is one of the wholly owned subsidiary companies in the Philippines of PTT Public Company Limited (PTTPLC), a Thai government owned firm. It has been operating in the country since 1997.

PTT is engaged in the primary business of marketing refined petroleum products and lubricants, which are focused on three major sectors –retail, wholesale and commercial markets. (PNA)