Auttapol Rerkpiboon, PTT's senior executive vice-president overseeing oil business, said the company will propose expanding non-oil business to the board of directors at its November meeting.
"The non-oil business has strong potential to grow further," he said. "The growth is higher than our previous expectations." PTT earlier announced an investment budget for its oil sector, including non-oil business, for the next five years (2016-20) of 24 billion baht.Of the total, 20 billion is for domestic expansion and the remainder for Asean growth.
According to the initial plan, PTT will expand its non-oil retail businesses such as Amazon cafe in Asean, expecting to raise the number of cafes to 200 by 2020, up from the current 37. It also plans to increase the number of petrol stations to 500, up from 170.
"Amazon cafe is growing very fast, especially in neighbouring countries such as Cambodia," Mr Auttapol said.
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