PTT Reveals Five-Year Investment Plan, Driving Innovation and Empowering National Energy Security for Sustainability

Event Calendar Press Releases Monday December 24, 2018 09:06
Bangkok--24 Dec--PTT

Today, Mr. Chansin Treenuchagron, President & Chief Executive Officer, PTT Public Company Limited, has revealed a resolution of PTT's Board to approve the company's five-year capital investment expenditure (2019 - 2023) worth 167.114 Billion Baht, excluding provisional investment. This investment plan is aligned with the company's sustainable management in balancing the 3P i.e. development of human resource, community and society (People), conservation of natural resources, and environment (Planet) and sustainable business (Prosperity).

PTT plans to allocate 6.095 Billion Baht to promote community and social development and natural resources conservation (People and Plant) through PTT Reforestation Institute. Moreover, the company prepares 2.9 Billion Baht for the development of Eastern Economic Corridor of Innovation (EECi) in Wangchan Valley to be a research and digital technology hub for the country.

Apart from the capital investment expenditure, PTT has continuously initiated and implemented social investment projects in various areas. For People, the company has applied Social Enterprise business model in Cafe Amazon for Chance, operated by San Palung Social Enterprise Company Limited, to support underprivileged people by improving their skills as well as providing them job opportunities. Cafe Amazon for Chance has currently four branches located in the Office of President branch and Faculty of Environment and Resource Studies branch in Mahidol University, Baan Chao Praya branch, and Sky Lane branch at Suvarnabhumi Airport.

In addition, PTT has continuously promoted education under PTT Model of People Development aiming to encourage people's all-life learning, especially in science and technology. Kamnoetvidya Science Academy (KVIS) and Vidyasirimedhi Institute of Science and Technology (VISTEC) in Rayong are a part of this PTT Model, and considered as a critical factor to support the development of Eastern Economic Corridor of Innovation (EECi) in Wangchan Valley to be a research and digital technology hub for the country.

For Planet, PTT emphasizes on stimulating and raising environmental conservation awareness through PTT Reforestation Institute, as well as encouraging local agroforestry among communities. Moreover, PTT has initiated PTT Group Clean & Green Strategy to tackle climate change-related risks, reducing greenhouse gas emission abided by COP21, while increasing Clean & Green product portfolio.

For Prosperity, PTT continues its 3D strategy with an aim to create energy security and to increase the company's capability and competitive edge. The 3D strategy is comprised of as followings;

Do now : To raise productivity improvement and competitive edge by applying digital technology in working processes with the budget of 55.291 Billion Baht such as Predictive Maintenance project covering production process and gas pipeline infrastructure process.

Decide now : To invest both in domestic and international investment with the budget of 91.203 Billion Baht, for examples; expansions of LNG Terminal and businesses in foreign countries, development of logistic system in downstream business, and seeking for investment opportunities in EEC.

Design now : To search for new S-Curve opportunities with the budget of 14.525 Billion Baht, in line with Thailand 4.0 policy driving economy with innovation and technology. The budget is in preparation for a development of power infrastructure network, energy storage system, and new businesses (Life Science and Material Science that help improve people's quality of life, Robotics/AI, Startup, and Corporate Venture Capital : CVC)

In addition, PTT has prepared its provisional budget on 187.616 Billion Baht for investment in core business, LNG value chain, and the new S-Curve, which are under feasibility study.

"The investment plan is in line with PTT strategic direction targeting to empower the country's energy security and public economic wealth in a sustainable manner, leading PTT to be the national pride and good governance company," Mr. Chansin said.

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