PTT to invest Bt900bn in five years
PTT Group of Companies is earmarked to invest Bt900 billion during 2012-2016, of which Bt357 billion is for investment in coal, palm oil, floating liquefied natural gas (FLNG), LNG terminal, and power-generating business.
Another Bt360 billion will be invested by PTT Exploration and Production Plc and the remaining Bt200 billion for petrochemical and refining businesses.
In the first year, the group will invest Bt91 billion.
For global competitiveness, PTT chief executive officer Pailin Chuchottaworn reiterated his plan to turn the company into a big company, with long supply chain and strong internal organisation. At the press conference on Friday, he said that such would ensure energy security for Thailand.
"PTT will become a "technologically advanced and green national oil company (TAGNOC)", where technology and knowledge will drive business instead of sole dependence on natural resources," he said.
PTT showed the non-consolidated net profit of Bt47.25 billion in 2011. The consolidated earnings topped Bt105.3 billion, on top of Bt2.4 trillion revenue. Only in the year, it remitted Bt63 billion to the country: Bt39 billion as corporate tax and Bt24 billion as dividend.
Pailin stressed that net profit margin of 4.4 per cent is low, compared to the average 9.5 per cent of global energy companies, thanks to PTT's social and environmental projects.
