Thailand: Esso to increase number of sites and invest in convenience

Esso is ready to initiate phase two of its expansion plan in Thailand with a 1 billion baht ($28m) investment over the next three years, reports the Bangkok Post.

The investment will be mainly used to increase the number of gas stations that include convenience areas. The first phase of the revamp consisted in the refurbishment of the existing 542 fuel stations with a total cost of 1 billion baht, according to Yodpong Sutatham, Esso's director of retail sales and fuel marketing.

In the expansion campaign the two main targets for Esso it to have more than 600 gas stations over the next three years and to boost its 14% market share, surpassing Bangchak Petroleum Plc, which currently has the second biggest market share at 15 percent.

Sutatham explained how Esso is looking to boost the convenience part of its fuel business in order to have other ways of income and to better resist fluctuant oil prices. For this purpose, Esso has signed agreements to partner with Caffe D´Oro and convenience retailers such as Tesco Lotus and Family Mart.