PTT Set Up New Subsidiary to Operate a Natural Gas Retail Business

PTT Public Company Limited (PTT) announced that the PTT’s Board of Directors at the meeting on 17 June 2021 passed the resolution to approve Siam Management Holding Company Limited (SMH) (PTT’s 100% owned subsidiary) to establish Pinthong Natural Gas Retail Company Limited (PINTHONG NGR), a joint investment with an affiliate of Pinthong Industrial Park Public Company Limited with the registered capital not in excess of Baht 282 million. SMH and the affiliate of Pinthong Industrial Park Company Limited will hold 70% and 30% stakes respectively. 

The objectives of the establishment are to operate and distribute natural gas for retail through gas pipeline and distribution network as well as to provide energy solution services for industrial customers in Pinthong 5 Industrial Estate, Chonburi province. This  investment will support and serve the industrial customers located in Eastern Economic Corridor (EEC) to have a stable and reliable energy source of supply. The company expects to complete its registration by the third quarter of 2021 and start its commercial operation within the third quarter of 2023.