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KBZ Group, PTT partner to develop oil terminal

The Kanbawza Group (KBZ) and Thai state-owned PTT Public Company (PTT) will enter into a joint-venture agreement through their subsidiaries for oil-terminal development and retail business expansion, the companies’ said in a press release.

KBZ’s Brighter Energy Co and Brighter Energy Retail Co will partner with PTT’s subsidiary PTT Oil and Retail Business Public Co Ltd (PTTOR).

The development of the oil terminal will include the procurement of petroleum products, management of jetty, oil storage terminal, liquefied petroleum gas (LPG) filling plants and wholesale business of petroleum products located in southern Yangon’s Thilawa area.

This project will be completed in 2021 and become the largest oil terminal in Myanmar with the capacity of one million barrels of oil and 4500 metric tonnes of LPG, the companies claim.

Oil terminal development and retail business will involve over US$185 million and US$26 million respectively, said U Kaung San, managing director of Brighter Energy Co and Brighter Energy Retail Co. The total investment is expected to be over UD$200 million.

PTTOR also plans to introduce brands such as PTT fuel stations and Café Amazon to Myanmar for its retail business expansion to local consumers and fuel stations will be expanded to 70 stations within 2023.

The company’s chair Auttapol Rerkpiboon said Myanmar has long been a key market to expand its fuel and retail business.

Source: Mizzima

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