PTT to spend P500M in ’18 for more stations, cafes
PTT Philippines Corp. has earmarked at least P500 million for its expansion in 2018 as it revs up its non-oil business, particularly the coffee shop chain Café Amazon.
The amount is part of PTT Philippines’ P5-billion capex plan for the next five years, an official said in a media briefing yesterday.
Sukanya Seriyothin, PTT Philippines president and chief executive, said the expenditure kitty would go primarily to the opening of more than 30 gasoline stations and about 12 Café Amazon stores across the country.
“We remain confident on the business climate in the Philippines that’s why from 20 stations that we targeted this 2017 which we actually exceeded, we are targeting more than 30 stations next year,” Seriyothin said.
PTT now has a total of 120 stations in the Philippines, with 15 stations each in Metro Manila and the Visayas. The rest are spread out in Luzon outside the capital.
PTT Philippines marketing director Thitiroj Rergsumran also said the company intended to open 12 Café Amazon stores in 2018. The Thai firm currently has six in the Philippines.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.