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Thailand’s PTT Oil and Retail will invest $405 million in the expansion of its Cafe Amazon network and its Texas Chicken franchise, accounting for 45 percent of its $900 million capital expenditure budget
According to CEO Disathat Panyarachun, 400 Cafe Amazon stores are slated to open this year, along with 122 gas stations and 500 EV charging stations.
PTT is also eyeing potential mergers and acquisitions.
Café Amazon, which was founded in 2002, has 3900 locations in its home market and more than 350 locations in ten overseas countries, including Japan, Oman, Saudi Arabia, Cambodia, Vietnam, Laos, China, Malaysia, Burma, and the Philippines.
The Thai café chain opened its first outlet in Saudi Arabia last year with plans to open 150 more by 2032. By 2025, Café Amazon plans to add 1,000 new locations abroad.
The company’s retail portfolio includes Texas Chicken, c-store chain Jiffy and Pearly Tea.
