Two non-financial branches of Kanbawza Group of Companies yesterday formed a partnership with a Thai-based company for fuel oil storing and retail fuel distribution in Myanmar under common interest.
PTT Oil and Retail Business Public Company Limited (PTTOR) under the PTT Public Company Limited of Thailand and Brighter Energy Company Limited and Brighter Energy Retail Company Limited of the Kanbawza group of companies will complete a fuel oil silo, which will become the largest of its kind in Myanmar, and a LPG tank in 2020.
Brighter Energy Company Limited and PTTOR signed a contract on the development of fuel oil storage in Myanmar, and PTTOR and Brighter Energy Retail Company Limited signed the contract on fuel oil storing and retail fuel distribution in the presence of Chief Minister of Yangon Region U Phyo Min Thein, regional cabinet ministers, Thai Ambassador to Myanmar Mr Suphatra Srimaitreepithak, President of PTT Public Company Limited (PTT) Mr Chansintreenuchagron, Chairman of PTTOR Mr Attapol Rerkpiboon and members of the board of directors, President U Zaw Min Win and members of Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), heads of foreign missions in Myanmar, officials of Brighter Energy and guests.
The Chief Minister, the Ambassador of Thailand and officials of the companies gave speeches at the signing ceremony.
Under the contract, there will be 70 more PTT filling stations in the nation by 2023. Each filling station will house a Café Amazon, a minimart, an engine oil service, a money exchange counter and a public restroom. There are also plans to join hands with the SMEs.
PTTOR is a reliable oil and LPG distributor of PTT Public Company Limited of Thailand. It has over 2000 filling stations in Thailand, Cambodia, Laos and the Philippines.—MNA (Translated by TMT)