OR invests 8 billion in foreign business in 5 years

Vientiane, OR aims to create sustainable business expansion opportunities, investing 8 billion in foreign business over a 5-year period (67-71). Mr. Disatat Panyarachun, Chief Executive Officer of PTT Oil and Retail Business Public Company Limited (OR), Mr. Suchart Ramas, President and CEO, and Mr. Racha Uthaichan, Deputy Chief Executive Officer of International Business, together with Mr. Peerawet Na Ranong, Managing Director of PTT (Laos) Company Limited (PTTLAO), jointly revealed OR's overseas business direction in expanding its business overseas to create success and acceptance in the global market by promoting OR's current overseas business strength. OR has continuously focused on developing strength and increasing business diversity, as well as seeking opportunities with partners from both Thailand and local partners, as well as expanding its business to new countries. OR's main strategy still focuses on expanding the network of PTT Stations and Café Amazon, as well as investing in infrastructure in po tential countries, with Laos being another country that OR prioritizes. OR has allocated a 5-year investment budget (2024-2028) for the Global Business Group at 8,007 million baht, or 12% of the total investment budget. Reflecting the commitment to creating sustainable growth in the global market Mr. Racha revealed that Lao PDR is a country with business potential and still has room for growth. Therefore, OR has set business strategies for the Mobility business group, including oil distribution through PTT Stations, product storage, PTT Lubricants, and FIT Auto and FIT Express service centers, as well as expanding into the clean energy market with EV Station Plus charging stations, and the Lifestyle business group, which operates a variety of businesses, including Café Amazon, convenience stores, and Khao Piek Poo restaurants. In addition, at the beginning of 2024, OR, together with its partners, initiated a project to use the agroforestry system to develop a model coffee plantation for coffee farmers in Lao PDR (Agroforestry Coffee Plantation) to enhance the potential of the export business of roasted coffee and green bean coffee for OR's subsidiaries abroad, as well as to increase the competitiveness of the OR group. Mr. Peeravet revealed PTTLAO's strategy by focusing on strengthening its position in the Lao PDR market and continuously expanding its business base. In the past, PTTLAO's business has been well-received by consumers. It continues to seek new business opportunities by collaborating with partners from both Thailand and potential local partners to create sustainable growth. For the Mobility business group, PTTLAO has a network of 7 product storage warehouses that support the distribution of fuel with a total capacity of over 7 million liters, as well as 54 PTT Stations covering travel routes in various areas nationwide. These are the most popular petrol stations among Lao consumers, including the PTT Lubricants business and 9 FIT Auto and FIT Express service centers. The Lifestyle business group sta nds out with Café Amazon, the most popular franchise store, with a total of 94 branches and a target to expand to 110 branches by 2024. OR has opened a Café Amazon Concept Store at the Kayasin Hospital in Chanthaburi, Vientiane Capital, which is the first Café Amazon Concept Store abroad. It has been very well received by Lao consumers. There is also a Café Amazon branch in Luang Prabang, a world heritage site, which stands out for its perfect integration of inspiration from local cultural traditions. There are also convenience store businesses and crab rice restaurant businesses that PTTLAO has developed as new brands to support customers who use the services at PTT Stations. It also meets the needs of all lifestyles of consumers who use electricity by installing and providing services for 6 EV Station PluZ charging stations at PTT Stations (as of June 30, 2024). PTTLAO also emphasizes on creating effective growth in 3 dimensions: economy, society and environment, which is in line with the OR 2030 target a nd also in line with the business strategy based on the OR SDG concept in every dimension, both in terms of 'S' or 'SMALL', creating opportunities for small people, 'D' or 'DIVERSIFIED', opportunities for growth in all forms, and 'G' or 'GREEN', aiming to reduce greenhouse gas emissions and increase the proportion of clean energy usage to create a healthy environment. Source: Thai News Agency