Bangchak aims to expand at home, overseas for stable growth
Bangchak Petroleum says it will continue expanding its investment in energy business both at home and abroad to secure its long-term financial performance.
Beyond its existing businesses including refineries, petrol stations, convenience stores and supplementary businesses at its service stations, the company will focus more on alternative-energy production, especially electricity produced by solar cells, said president Vichien Usanachote.
Bangchak has opened its first petrol station in Myanmar and also ships lubricants to distribute in that country as well as Laos, Vietnam, Cambodia, Fiji and Kenya. The company plans to launch new businesses in those markets in the future as part of its diversification plan.
Vichien noted that the company would turn 100 years old this year.
He said it intended to remain stable with innovations to cater to changing business environments at the national and global levels.
This year, Bangchak projects that its earnings before interest, taxes, depreciation and amortisation (EBITDA) will grow by 30 per cent to about Bt10 billion year on year.
It will keep its refinery volume at 110,000 barrels per day excluding suspensions for maintenance.
The company plans to increase its efficiency and bring in more environmentally friendly processes, with an investment budget of Bt6 billion.
It will open two additional environment-friendly stations. As a supplementary business, the number of mini Big C convenience stores at its stations will increase to 100.
Its project to produce electricity from solar cells, called Sunny Bangchak, in Chaiyaphum and Ayutthaya is in the second phase. Production capacity at these two locations is 32 megawatts, totalling 70MW when combined with the first phase.
The power will be sold to the Provincial Electricity Authority in the current quarter, contributing at least Bt1.4 billion to the company.