Thai PTT plans on investing billions on Myanmar
PTT is readying itself to shell out billions of United States dollars for investments into a new market - Myanmar. The ASEAN nation has been a new frontier for some investors, looking at untapped possibilities for investment growth.
Chief Executive Officer of PTT Pailin Chuchottaworn announced the company's future venture into Myanmar citing that the company's presence from the upstream petroleum, oil and gas businesses are their forefront reason to do so.
The company has a history of investing grand amounts. PTT Exploration and Production or PTTEP invested billions of dollars in similar processes, enabling the company to market new lubricant products. PTT is also creating a standard fueling station along the highway linking Nay Pyi Taw and populous Yangon.
The CEO also said that the company's next move could possibly be the construction of a power plant to aid in Myanmar's power demand issues. A study is currently being conducted on the other possibility of building an oil refinery.
If all goes according to plan, Chuchottaworn says that PTT could be pouring billions into the country.
He added that Myanmar is part of Thailand's national energy strategy.
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