SET-listed PTT Oil and Retail Business Plc (OR) is allocating capital expenditure worth 26.9 billion baht to further expand its retail businesses, including Cafe Amazon, as well as develop the food and beverage businesses of its partners.
The budget, part of five-year capital spending valued at 93.4 billion baht set to be used until 2026, is aimed at helping OR grow in non-oil businesses and overseas investments in response to fierce competition in the domestic oil market.
Total capital expenditure was earlier set at 74 billion baht, but the board of OR agreed to increase the amount, said Jiraphon Kawswat, president and chief executive of OR.
Domestically, OR plans to add 389 more Cafe Amazon coffee houses, up from 3,931 shops last year.
The company will also build 20 new Texas Chicken outlets.
In the electric vehicle (EV) sector, OR will increase the number of EV charging outlets by 350, up from 100 last year. It plans to have 200 of its 350 new facilities located at its petrol stations, with the remainder based elsewhere.
The company also wants to increase its petrol station numbers by 129 nationwide, up from a total of 2,439 filling stations last year.
This year OR plans to launch Fit Auto, a car care business, under a franchise model, following demand from local petrol stations.
The food and beverage businesses of OR's partners, including Peaberry coffeeshops, Kamu Kamu tea shops, and noodle shops under Kouen Restaurants, are set to expand and will be located both within and outside PTT petrol stations.
Overseas, OR plans to add 73 new petrol stations in Myanmar, Laos, the Philippines and Cambodia.
Up to 129 Café Amazon shops will be also added to these countries, in addition to Japan, Malaysia, China, Vietnam and Oman.
According to OR, it plans to spend 36% of the five-year capital spending on oil and car-related businesses, 22% on lifestyle businesses, 14% on overseas businesses, 20.5% on rapidly growing and innovative businesses and 7.3% on other businesses.
