PTT to build new petrol stations, close unprofitable ones
PTT next year plans to spend up to Bt550 million to build 15 new petrol stations while closing more than 50 unprofitable ones.
PTT executive Chaiwat Choorit yesterday said the company would place more emphasis than before on premium petrol stations. To this end, it will build five at a cost of Bt60 million each.The company will also build 10 new standard petrol stations at a cost of Bt20 million to Bt25 million apiece. The total budget for all of the new service stations is Bt500 million to Bt550 million. However, the company at the same time will shut down 50 unprofitable petrol stations next year, after already closing 60 this year from a total of 1,217. Chaiwat said an appropriate number of service stations would be about 1,000. He also said the company would monitor oil prices until tomorrow, then determine whether to adjust its retail petrol and diesel prices. He added that retail oil operations had improved this year, after last year's major fluctuations in oil prices. Rival Bangchak Petroleum earlier closed 20 petrol stations, saving itself Bt96 million. The stations that were shut down had failed to show a sufficient profit. Yesterday, PTT signed a memorandum of understanding with Toyota Motor Thailand to supply 5 million litres a year of its Alpha X 95 benzene and Delta X Euro Three diesel to Toyota's new production facility in Chachoengsao province. The factory has a production capacity of 400,000 vehicles a year. The deal is worth Bt140 million annually. - The Nation
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