PTT - Mitsui Co. established a joint venture agreement to revolutionize industries through Robotics and AI innovations, ready to step towards Thailand 4.0

Event Calendar Press Releases Monday January 20, 2020 16:22

PTT Public Company Limited and Mitsui & Co. (Thailand) Ltd. held a signing ceremony of joint venture agreement to cooperate on Robotics and Artificial Intelligence business operations. In order to accelerate economic growth and social advancement, following the Thailand 4.0 initiative, this joint investment focuses on creating a value-based economy that is driven by innovation, digital systems, and high-tech automation in the industrial sector. This cooperation serves as a good starting point to drive the country towards an innovation-based economy. It also helps advancing digital ecosystem, enhancing business competitiveness and sustainable linking industrial sector to the world stage.

Mr. Wittawat Svasti-xuto, Chief Technology and Engineering Officer, PTT Public Company Limited (PTT), revealed that this joint venture agreement was a significant milestone for PTT's new business investment strategy to foster sustainable growth while addressing the changing era of digital transformation. With a strong determination to promote the use of robot technology, automation and intelligent solutions in the industrial sector, this business partnership would emphasize the expertise of two alliances that would be beneficial to the industrial development. In the initial phase, PTT and Mitsui & Co. should focus on developing a System Integrator (SI) capability to help local players and potential customers to create added value throughout the business chain by using technology and digital expertise as the basis.

Mitsui & Co., Ltd. is one of the largest and most prominent global trading and investment companies. Mitsui & Co., (Thailand) Ltd., an affiliate of Mitsui & Co. has a long standing presence in Thailand. Since the 1950s Mitsui & Co. has built a diverse portfolio of businesses in Thailand covering oil & gas, steel, infrastructure, machinery, vehicles, chemicals, food, and ICT.

Mitsui & Co. utilizes its customer base and expertise in marketing, finance, logistics, and risk management to provide integrated solutions to suite customers and partners in Thailand.

"Today's cooperation will be a mechanism that drive our country's economy by encouraging the industrial sector to use Robotics and Artificial Intelligence in response to the government's Thailand 4.0 policy. Therefore, the expansion of production will occur, leading to a growing robotics industry and widespread automation that is aligned with the New S-Curve industries, the country's strategic industries.

The collaboration will drive towards the result of an improved economic system and lead the country towards economic development based on an Innovation-driven economy. It can also increase the potential to expand business opportunities to the world market in the future," added by Mr. Wittawat.

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