MANILA -- PTT Philippines has allocated PHP500 million for capital expenditures this year to help finance the opening of an additional 30 gas stations, among other expansion plans.
In a briefing Thursday, newly-appointed PTT Philippines President and CEO Thitiroj Rergsumran said they plan to have a little short of 200 stations nationwide by the end of this year.
“Last year we have 152. Now 162 and (we plan to open) 30 something stations more,” he said.
Rergsumran declined to give figures on how much it costs to establish each branch, noting that this depends on the location.
During the same briefing, PTT Philippines Trading Corporation President and CEO Danny Alabado said they target to open more branches in Luzon and Cebu.
“We will open additional branches in regions where there are higher growth and high demand,” he said.
PTT is a wholly-owned subsidiary of Thailand’s largest oil and gas company PTT Public Company Limited (PTTPLC).
Rergsumran, who succeeded Sukanya Seriyothin, vowed to sustain the growth of the company’s oil and non-oil businesses.
“We are confident that we can achieve our growth because of the strong support from our head office in Thailand, especially now that Khun Sukanya (Seriyothin) has already joined our international marketing,” he said.
Meanwhile, Alabado has high hopes for PTT’s jet fuel supply agreement with Cebu Air.
The supply agreement, signed by Alabado and Cebu Air Incorporated’s Lance Gokongwei, involves the direct importation of about 260 million liters of jet fuel.
Another agreement was signed between the two companies for Cebu Air’s domestic consumption of 12 million liters of Jet A-1 in Clark International Airport.
A similar deal was earlier signed by officials of PTT’s parent company, PTT Oil and Retail (PTTOR), and Cebu Air in Bangkok, Thailand for the provision of about 24 million liters of aviation fuel for refueling of Cebu Air planes at the Hong Kong International Airport.
Rergsumran said they continue to be aggressive in supplying Jet A-1 to international airports in Asia with the help of PTTOR.
“PTTOR has a system in place that’s why it’s easy for us to serve international airport in Asia just like the one that we recently signed with Cebu Air for Hong Kong International Airport,” he added. (PNA)
