ID :
196176
Thu, 07/21/2011 - 06:49
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http://m.oananews.org//node/196176
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PTT targets to be on Fortune's world top 100 firms list by 2020
BANGKOK, July 21 (TNA) - PTT Public Company Limited (PTT), Thailand's largest petroleum firm, has targeted to be enlisted as the world's 100 biggest companies, annually ranked by the globally recognised US-based Fortune Magazine, by 2020, from its 128th position ranked this year.
PTT President Prasert Bunsumpun has publicly announced the target, saying that to achieve the ambitious goal, PTT is upgrading itself to be a multinational business conglomerate based on its strategic plan 2011-2020.
Under the 10-year business strategic plan, Prasert acknowledged, PTT will invest 100 billion US dollars totally, or some three trillion baht, to expand its affiliated businesses, half in domestic projects and the other half in overseas programs, aimed to generate an overall double revenue of some 200 billion US dollars, or about six trillion baht, by 2020 with a total profit of some 340 billion baht, or accounting for some 4-5 per cent on average.
Prasert said that the PTT board will hold a meeting on July 23 to discuss and first work out the company's five-year strategic plan 2011-2016, under which an initial capital of some one trillion baht is totally needed to fund the company's half-way investment projects within its 10-year business strategic framework through its subsidiary firms, focusing on gas and coal projects.
According to the PTT president, the company's gas projects include a gas pipeline network in the Thai North and Northeast and expanding gas supply to local households and motorists; while its new coal projects will mostly be invested overseas, namely Indonesia, Brunei, Mongolia and Madagascar, through PTT Asia-Pacific Mining Limited with its production capacity of over 10 million tonnes a year, as surveys have found that existing global coal reserves, with cheaper prices, will serve the world for over 120 years, some 80 and 60 years more than global oil and gas stocks respectively.
The PTT top executive said that the new 10-year business strategic plan will also enable PTT, as a state enterprise listed on the Thai stock market since 2001, to contribute more revenues to the government, from 400 billion baht during 2001-2010. (TNA)
PTT President Prasert Bunsumpun has publicly announced the target, saying that to achieve the ambitious goal, PTT is upgrading itself to be a multinational business conglomerate based on its strategic plan 2011-2020.
Under the 10-year business strategic plan, Prasert acknowledged, PTT will invest 100 billion US dollars totally, or some three trillion baht, to expand its affiliated businesses, half in domestic projects and the other half in overseas programs, aimed to generate an overall double revenue of some 200 billion US dollars, or about six trillion baht, by 2020 with a total profit of some 340 billion baht, or accounting for some 4-5 per cent on average.
Prasert said that the PTT board will hold a meeting on July 23 to discuss and first work out the company's five-year strategic plan 2011-2016, under which an initial capital of some one trillion baht is totally needed to fund the company's half-way investment projects within its 10-year business strategic framework through its subsidiary firms, focusing on gas and coal projects.
According to the PTT president, the company's gas projects include a gas pipeline network in the Thai North and Northeast and expanding gas supply to local households and motorists; while its new coal projects will mostly be invested overseas, namely Indonesia, Brunei, Mongolia and Madagascar, through PTT Asia-Pacific Mining Limited with its production capacity of over 10 million tonnes a year, as surveys have found that existing global coal reserves, with cheaper prices, will serve the world for over 120 years, some 80 and 60 years more than global oil and gas stocks respectively.
The PTT top executive said that the new 10-year business strategic plan will also enable PTT, as a state enterprise listed on the Thai stock market since 2001, to contribute more revenues to the government, from 400 billion baht during 2001-2010. (TNA)
