Esso Thailand to expand network with $4.3mn investment

It will also invest in its refinery to produce Euro 5 fuels and in its non-fuel business.

Esso Thailand Plc will spend between 1.2 and 1.5 billion baht (around $4.3mn) to expand its network of gas stations in the country.

By increasing the capital spending, chairman and managing director Adisak Jangkamolkulchai said that Esso Thailand wants to increase the number of gas stations from 676 to 690 by the end of the year, with plans to go past the 700 mark in 2021.

The expansion is expected to help Esso, one of the top five fuel retailers, maintain its market share in fuel retail at 11-12%, reports the Bangkok Post.

Part of the capital spending will go the production of Euro 5 standard fuel through improvements at refineries.

Another goal will be the expansion of its non-fuel offering. Esso recently joined forces with Minor Food Group to embark on non-oil business.

In September they opened the new coffee chain, Coffee Journey, at Esso petrol stations.