Shell Thailand announces 1 billion baht investment in downstream operations

Shell Thailand said it will invest 1 billion baht (US$32.4 million) to upgrade its retail stations, in its bid to become the second largest oil retailer in Thailand, after state-controlled PTT Pcl. Under the plan, about 10 new stations will be set up this year. Of these, six will be paid for via direct investment from the company, while the rest will be taken up by dealers. The stations are expected to open in the third quarter of this year. Last year, the company’s dealers opened only seven new retail outlets. Pisawan Achanapornkul, president of Shell Thailand, said the company would use part of the investment budget to improve the stations’ brand image and to boost its lubricant and asphalt businesses. “The expansion will allow the company to reap a bigger share of the fuel market and become the second-biggest trader, as our products do not cover as many types of fuel as our competitors,” Pisawan said. (February 11, 2012)