Thailand’s PTT Oil and Retail Business Pcl shared that it plans to invest about $900 million in 2023 to expand its businesses on Monday, 27 March 2023.
This year, it plans to add 122 gas stations, 400 coffee shops and 500 EV stations, Chief Executive Officer Disathat Panyarachun said.
About 45% of the budget will be used to expand its coffee house franchise, Cafe Amazon and fried chicken chain, Texas Chicken, reported Reuters.
22% of the budget would be used to expand PTT Pcl’s network of gas and electric vehicle (EV) charging stations.
Currently, PTT Oil and Retail Business Pcl operates over 2,100 gas stations, 300 EV charging stations and about 3,900 coffee shops.