PTT, or PTT Public Company Limited, a prominent Thai state-owned oil and gas enterprise listed on the SET, is diversifying its investments across various sectors, such as renewable energy, petrochemicals, and infrastructure, in addition to its core operations. With a substantial 30 billion baht commitment to the Thai economy, PTT aims to bolster economic growth and progress in the nation.
The decision to accelerate this investment comes in response to the delay in the government budget for 2024, urging state-owned enterprises like PTT to proactively sustain economic momentum. Over the span of five years from 2024 to 2028, PTT has earmarked a total investment of 89.203 billion baht.
Noteworthy achievements in the first quarter include the nearing completion of the Gas Transmission Pipeline Project Line 5. Furthermore, PTT is expanding its refineries, like the Thai Oil Public Co Ltd. refinery, elevating its daily capacity from 275,000 to 400,000 barrels. These strategic investments are anticipated to streamline financial flows and operations, directly benefiting the economy.
CEO and President Auttapol Rerkpiboon highlighted that the government’s call to expedite investment plans is aimed at energizing the national economy amidst delays in the 2024 budget implementation. With a focus on ensuring job creation, economic vitality, and bolstering overall competitiveness, PTT’s investments are forecasted to play a pivotal role in fortifying Thailand’s energy security.
Looking ahead, PTT’s investment strategy for the forthcoming five years, as delineated in financial reports, emphasizes various business segments. The natural gas division will see significant investment, amounting to 30.636 billion baht, alongside allocations for projects like natural gas pipelines, New Ventures, Infrastructure and HQ, and overseas trade and downstream petrochemical ventures with wholly-owned subsidiaries.
By proactively investing before the budget ratification, PTT showcases its commitment to stimulating economic advancement. Through strategic infrastructure and energy projects, PTT endeavors not only to enhance Thailand’s current GDP but also to lay a robust foundation for rapid future development.
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