OR seeks partners to grow non-oil projects

OR seeks partners to grow non-oil projects

Firm teams up with startups and SMEs

PTT Oil and Retail Business Plc (OR), Thailand's largest oil and coffee shop operator by volume, is pushing ahead with its new vision to partner with startups and small and medium-sized enterprises (SMEs) over the next eight years to achieve rapid growth of non-oil businesses together.

One project involves integrating products and services offered through physical platforms with online platforms, which is expected to launch by the end of this year, said Jiraphon Kawswat, president and chief executive of OR.

Petrol stations, convenience stores and other non-oil businesses operate on a brick-and-mortar model in Thailand and 10 Asian countries.

The cooperation will be based on OR's strengths, with 7.5 million Blue Card members in the OR customer database and 3.3 million trips to PTT stations across Asia, she said.

The number of petrol stations and Cafe Amazon stores in Thailand and abroad stood at 2,453 and 4,002, respectively, said Phichin Aphiwantanaporn, OR senior executive vice-president for finance. Convenience stores under the Jiffy and 7-Eleven brands in Thailand numbered 2,081.

The new partnership aims to generate revenue for 13,000 SMEs and startups and create 145,000 new jobs by 2030, said Ms Jiraphon.

OR wants startups and SMEs to join the company to increase overseas sales, covering 100 countries.

"Around 20 firms are expected to have full operations overseas and 10 Thai brands are expected to be internationally recognised," she said during a seminar titled "New Chapter of Thai Economy" yesterday.

Over the past two years, OR has partnered with dozens of startups and SMEs in a range of businesses, spanning from food and beverage to deep technology.

Under OR's inclusive growth concept, the company aims to help startups and SMEs overcome hindrances and enjoy good business outcomes together.

OR also continues to develop more electric vehicle (EV) facilities in line with its electric mobility business.

The company plans to increase the number of EV charging outlets to 450, up from 107, by the end of this year, said Ms Jiraphon, aiming to reach 7,000 in 2030.

To serve a greater number of EVs, the company plans to have Fit Auto car care, now run under a franchise, expanded to cover EVs, she said.

OR aims to rack up 40 billion baht in earnings before interest, taxes, depreciation and amortisation in the next decade, up from 20 billion last year, said Ms Jiraphon.

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