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.
“Our current market share is 2.4 percent,” Seriyothin said. But, “we keep on growing up.”
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.
PTT Philippines began a P2.1 billion five-year expansion program in 2013, which was used to fund 75 new stations and depots.
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.
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.
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.