Susco plans to add another 300 petrol stations by 2022 with an investment of 1.5-2 billion baht.
Managing director Chairit Simaroj said this massive budget includes developing the non-oil segment and renovating 238 existing petrol stations in coming years. Susco is providing a budget of 2 million baht to renovate each existing station. Some 600 million baht is allocated for 2019 for 40 new petrol stations, he said.
Mr Chairit said the number of petrol stations in Greater Bangkok will increase from 80 to 90 stations this year. "There are more than 12 million registered cars in Bangkok and surrounding provinces, half of the total across the country, which is projected to rise every year," he said.
"Previously, Susco planned to locate petrol stations on minor roads and provincial areas, but tourism sentiment has been bearish so the company changed its expansion plans." Susco plans to ask convenience stores and food and beverage chains to operate at the new petrol stations.
"In 2020, Lawson convenience stores at our stations will increase from 30 to 50, while multi-brand coffee chain outlets will record the same uptick," said Mr Chairit. "Susco is working on further partnerships with other shops such as KFC, Starbucks and Subway for expansions at petrol stations."
He said Susco's business model for the non-oil segment will shift to benefit-sharing with the land owner from rental fee collection amid bearish local consumption. Susco expects 2019 revenue to reach 30 billion baht, compared with 28.2 billion last year.
Susco's market share at petrol stations is projected to be 4% by 2022, up from 3% in 2019. "The company has to emphasise membership cards, now at 1 million holders, and promote marketing activities and discount campaigns," said Mr Chairit., "Susco plans to operate billboard advertising at petrol stations from October to gain extra revenue."