Thai oil giant PTT OR is reportedly investing $220M to extend Cafe Amazon’s network, renovate locations and look into F&B acquisitions.
According to PTT OR investor relations manager Pitirat Rattanachote, almost 40 per cent of the oil giant’s overall $560M investment budget this year would go towards expanding its domestic coffee shop operation. Cafe Amazon is a Thai coffeehouse chain that is owned and operated by PTT Public Company, Thailand’s largest state-owned oil and gas corporation.
Founded in 2002, the first Cafe Amazon location was in a PTT petrol station to improve the customers’ experience. In 2023, the company had more than 4,400 locations across 11 Asian nations, with international branches in Cambodia, China, Japan, Laos, Malaysia, Myanmar, Oman, the Philippines, Saudi Arabia and Vietnam.
In 2023, PTT Oil and Retail said it would invest US$405M in the expansion of its Cafe Amazon network and its Texas Chicken franchise.
