PTT earmarks P500 million for coffee-fuel expansion mix

PTT Philippines expects to spend PHP500 million (US$9.9 million) on beefing up its retail network, including a foray into the Japanese market.

President/CEO Sukanya Seriyothin says that while the bulk of the expansion for the Thai oil and gas giant PTT subsidiary will be gasoline stations, it includes about 12 Cafe Amazon outlets, mainly in Luzon.

Following its diversification into the coffee business, PTT has started investing in the Philippines to complement its more than 1850 stores in Thailand and other parts of Asia, including one in Japan, says the company.

With a “notable landscape change” in its investment plan, the company aims to open 100 cafes in the near term, with six to be up and running by year end.