Thailand’s PTT Oil and Retail Plans USD 900 Million Investment in 2023 for Expansion

April 2023

PTT Oil and Retail (OR), Thailand’s prominent oil and retail operator, has announced impressive financial results for 2022, with sales and service revenue totaling USD 22.8 billion, marking a remarkable increase of over 50% compared to the previous year. This notable growth can be attributed to the resurgence of domestic tourism and the overall post-pandemic economic recovery.

Additionally, OR has revealed plans to invest a substantial amount of USD 900 million in 2023 for the expansion of its local and international businesses. With a network of more than 2,500 gas stations across Asia and a renowned chain of coffeehouses called ‘Café Amazon’, which is now the sixth largest in the world, selling over 380 million cups of beverages annually in 11 countries, OR is set to make strategic investments in various sectors.

Significantly, nearly half of the investment budget will be allocated to lifestyle businesses, including the expansion of Café Amazon and other branches, as well as the acquisition of new partners in the health & wellness and tourism sectors.

For the upcoming year of 2023, OR has ambitious plans to launch 122 new gas stations and open 400 Café Amazon branches both in Thailand and overseas. These new PTT Station branches will feature modern and community-friendly designs, reflecting OR’s commitment to innovation and customer-centricity.

(Sources: PR Newswire; Reuters)


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