PTT Tank Terminal plans to spend 1.28 billion baht to increase capacity and handle shipments of liquefied petroleum gas (LPG) of up to 1 million tonnes a year.
The terminal is located in Rayong’s Map Ta Phut Industrial Estate. The company has a single LPG terminal on the eastern seaboard, but this is insufficient to handle growing LPG shipments, a board statement said.
Acting managing director Nattapong Pornprayuth said PTT Tank had five projects under development, led by the doubling of its LPG distribution capacity to 120,000 tonnes a year. This project is scheduled to be completed early next year.
The company was established in 1992 to comply with the government’s policy of promoting petrochemical and heavy industries. It operates a petrochemical and petroleum products tank farm served by three deep-sea berths with a draft of 12.5m at Map Ta Phut.
Thai Tank is a joint venture of SET-listed PTT Global Chemical Plc, Thailand’s largest integrated petrochemical and refining company, and Vopak.
Last year PTT Tank achieved revenue of 230 million baht. In the first half of this year, it received 165 million baht, beating estimates of 130 million. Nattapong said the company has upgraded its estimate for this year’s revenue to 285 million baht from 260 million.