PTT Philippines expands retail network | Inquirer Business

PTT Philippines expands retail network

THAI-LED PTT Philippines Corp. (PTTPC) is expanding its retail network, particularly in Visayas and Mindanao.

“From 85, we are planning to increase our retail service stations to 300. We will be spending a billion for the expansion,” PTT president and chief executive Sukanya Seriyothin told reporters.

PTT Philippines is targeting a 15 to 20 percent growth per year in terms of expanding its retail service station, she said.

Article continues after this advertisement

“Our current market share is 2.4 percent,” Seriyothin said. But, “we keep on growing up.”

FEATURED STORIES

Seriyothin said PTT Philippines posted a revenue growth of 10 percent for the first half of the year.

She said the company is “not quite” affected by the continued fluctuations in oil prices because these were being offset by the volume sales, which increased by 30 percent.

Article continues after this advertisement

PTT Philippines began a P2.1 billion five-year expansion program in 2013, which was used to fund 75 new stations and depots.

Article continues after this advertisement

Besides network expansion, PTT Philippines has also been working on its non-oil business with the construction of a theme park concept service station in Tarlac.

Article continues after this advertisement

After winning a competitive bidding, PTT signed a contract with the Bases Conversion and Development Authority (BCDA) last year to develop a major service station along SCTEx. It was awarded a renewable 25-year contract for the development project that involves the establishment, operation and maintenance of a gasoline station.

The SCTEx station, which will cost P200 million, will provide a wide variety of services and other amenities, Seriyothin said.

Article continues after this advertisement

The service station will sit on a two-hectare property at the Macangcung Service Area in Barangay Santiago, Concepcion, Tarlac, and will serve northbound travelers on the SCTEx’s Clark-Tarlac segment.

PTT has been in the Philippines for 18 years serving the aviation, maritime, and mining sectors.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Business, economy, News, Retail

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.