PTTOR plans $2.9bn investments by 2026

Thailand’s PTT Oil and Retail Business (PTTOR) plans to invest 93.5 billion baht (US$2.9 billion) over the next five years to expand its food and beverage business, utilising its big gas stations network, its chief executive said on Monday.

About 42% of capital expenditure will be used to expand its non-oil business including adding more coffee shops and restaurants, Jiraphon Kawswat told a virtual news conference.

Part of the investment will also go to technology to help analyse customer data and identify new opportunities, she added.

The investment plan seeks to increase the proportion of income from its non-oil and overseas businesses and reduce the contribution from its gas stations.

The firm has a network of over 2,000 gas stations and owns Thailand’s largest coffee franchise, Cafe Amazon, with about 3,000 stores, along with bubble tea brands, fried chicken…