Myanmar: KBZ Group, PTT partner to develop fuel retail distribution

The joint venture includes investments in fuel storage and the opening of 70 fuel stations across the country by 2023.

The privately owned Kanbawza Group of Companies (KBZ), of Myanmar, and the Thai state-owned PTT Public Company (PTT) will enter into a joint venture agreements to invest in fuel oil storage and retail distribution in Myanmar, according to a KBZ press release.

Two subsidiaries of KBZ—the Brighter Energy Company Ltd. and the Brighter Energy Retail Company Ltd.— signed two major agreements with PTT subsidiary PTT Oil and Retail Business Public Co. Ltd. (PTTOR).

The two will construct under a development of oil terminal agreement the largest fuel oil storage tank in Myanamar, and a liquefied petroleum gas (LPG) filling plant, to be completed by 2021. The agreement also includes management of jetty, oil storage terminal and wholesale business of petroleum.

A separate retail business expansion agreement also includes the opening of 70 petrol filling stations across the country by 2023. According to KBZ, each filling station will include a Café Amazon, a minimart and a money exchange counter, in addition to other facilities.

PTTOR chairman, Auttapol Rerkpiboon, expressed that PTT sites will encourage the development of the SMEs they partner with at the filling stations locations.

With over 2,000 filling stations in Thailand, Cambodia, Laos and the Philippines, PTTOR is one of Thailand’s largest oil and LPG distributors.