The privately owned Kanbawza Group of Companies (KBZ), of Myanmar, and the Thai state-owned PTT Public Company (PTT) have signed two partnership agreements to invest in fuel oil storage and retail distribution in Myanmar, according to a KBZ press release.
Two branches of KBZ—the Brighter Energy Company Ltd. and the Brighter Energy Retail Company Ltd.— signed two major agreements with PTT subsidiary PTT Oil and Retail Business Public Co. Ltd. (PTTOR).
Under a Development of Oil Terminal agreement, the two will construct a fuel oil storage tank and a liquefied petroleum gas (LPG) filling plant, to be completed by 2021. The storage tank will be the largest of its kind in Myanmar. The agreement also includes management of jetty, oil storage terminal and wholesale business of petroleum.
Under a separate Retail Business Expansion agreement, they will open 70 petrol filling stations across the country by 2023. According to KBZ, each filling station will include a Café Amazon, a minimart and a money exchange counter, in addition to other facilities.