Thai PTT Plans to Invest $10B 2014-2018

Thai PTT Plans to Invest $10B 2014-2018

Reuters

BANGKOK, Dec 20 (Reuters) – Thailand's top energy firm PTT said on Friday its board has approved five-year investment plan of 327 billion baht ($10.07 billion) during 2014-2018, revising down the previous budget.

State-controlled PTT, which reviews its five-year investment plan each December, aimed to invest 87 billion baht in 2014 and 53 billion baht in 2015, it said in a statement.

The investment will focus on its core gas business, including the natural gas transmission pipeline and liquefied natural gas (LNG).

It had scaled back spending plans for this year due to lower-than-expected economic growth. It earmarked $12 billion for a five-year investment plan from 2013-2017. ($1 = 32.4650 Thai baht)

(Reporting by Khettiya Jittapong, editing by William Hardy)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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