Thai Oil Retailer Eyes China, India for Coffee Chain Expansion

(Bloomberg) — Thailand’s largest fuel retailer plans to open its coffee outlets in India and Indonesia and expand its footprint in China to lower its reliance on revenue from fossil fuels with the world increasingly embracing electric vehicles and renewable energy.

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PTT Oil & Retail Business Pcl will increase the number of its Cafe Amazon outlets by 60% to 6,000 by 2025, according to Chief Executive Officer Jiraphon Kawswat. That will make it the world’s fourth-largest coffee chain by the number of outlets, up from sixth currently, she said.

Focusing on countries with high growth potential and large populations will allow the unit of PTT Pcl, Thailand’s most-valuable company, to beat the low single-digit growth that mirrors Thailand’s gross domestic product in recent years, Jiraphon said. The global travel will likely return to pre-pandemic levels within…