SET-listed PTT Oil and Retail Business Plc (OR) is allocating capital expenditure worth 26.9 billion baht to further expand its retail businesses, including Cafe Amazon, as well as develop the food and beverage businesses of its partners.
The budget, part of five-year capital spending valued at 93.4 billion baht set to be used until 2026, is aimed at helping OR grow in non-oil businesses and overseas investments in response to fierce competition in the domestic oil market.
Total capital expenditure was earlier set at 74 billion baht, but the board of OR agreed to increase the amount, said Jiraphon Kawswat, president and chief executive of OR.
