PTT Plc, the largest listed company on the Stock Exchange of Thailand, is set to invest about 367 billion baht over the next five years, the energy flagship said in its filing to the bourse late on Friday.

Its board of directors approved capital expenditure of 366.74 billion baht for 2013-17. The investment is slightly up from 350 billion baht approved for 2012-16.

About 111 billion baht will be allocated to its natural gas business, with 51.38 billion for investment in oil and international trading.

About 191 billion baht will be spent on joint ventures and wholly owned subsidiaries, while the rest is allocated for the head office and other businesses.

PTT's investments will expand international energy business and enhance import capability to meet growth in gas demand.

Other major projects include a fourth onshore natural gas transmission pipeline running from Rayong to Kaeng Khoi in Saraburi province, pipelines in Nakhon Sawan and Nakhon Ratchasima, and a liquefied petroleum gas (LPG) facility.