PTT earmarks P500 million for coffee-fuel expansion mix
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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.
Questions & Answers
Q.How much does PTT Philippines plan to spend on its retail network expansion?
How much does PTT Philippines plan to spend on its retail network expansion?
PTT Philippines expects to spend PHP500 million (US$9.9 million) on expanding its retail network. This includes investment in both gasoline stations and Cafe Amazon outlets.
Q.What is PTT Philippines' target for opening new cafes in the near term?
What is PTT Philippines' target for opening new cafes in the near term?
The company aims to open 100 cafes in the near term. Six of these are planned to be operational by the end of the current year.
Q.Where does PTT plan to open its new Cafe Amazon outlets?
Where does PTT plan to open its new Cafe Amazon outlets?
PTT plans to open about 12 Cafe Amazon outlets. These will be mainly located in Luzon, as part of its retail network expansion.
Q.What is the primary focus of PTT Philippines' retail network expansion?
What is the primary focus of PTT Philippines' retail network expansion?
The bulk of the expansion for the PTT subsidiary will be dedicated to gasoline stations. This forms the main part of their P500 million investment.
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