Thaioil to double R&D investment | Bangkok Post: business

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Thaioil to double R&D investment

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Thailand's largest oil refinery, Thaioil Plc (TOP), plans to more than double its research and development (R&D) budget to at least 300 million baht in the next few years. 

Chief executive Veerasak Kositpaisal said the company is spending 150 million baht on R&D this year, up from less than 100 million last year.

The budget will rise from 1% to 3% of the company's net profit in the next 2-3 years, reaching the same level as parent company PTT Plc.

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