Lao Petro Trade to establish fuel depot for service expansion
Lao Petro Trade to establish fuel depot for service expansion
The Petroleum Trading Lao Public Company plans to establish a fuel depot capable of storing 20 million litres of fuel in the capital Vientiane next year, to facilitate its oil services expansion around the country.
The company is one of the major fuel and petroleum products distributers in Laos, and is now also engaged in exports to other Asean countries.
This is the first year it has exported fuel products to overseas destinations, according to the company.
Its total sales for one year reached over 190 million litres of fuel and petroleum products, of which more than 130 million litres was supplied within the country while over 50 million litres were exported to Cambodia and Myanmar, the company CEO, Mr Chanthone Sitthixay told Vientiane Times recently.
Each year, the company supplied about 60 percent of its products through retail stations in Laos and 40 percent for export, Mr Chanthone said.
However, this fiscal year the company's sales only reached 80 percent of the annual trading plan. This is because Petro Trade has ambitious growth plans, it was noted.
Petro Trade is also currently renting a 300 million litre fuel depot in the Free Trade Zone of Phetchaburi province, Thailand under a strategic partnership.
The target of this fuel depot in Thailand is to allow future distribution to Asean countries, while the new fuel depot in Laos will supply fuel within the country, Mr Chanthone explained.
Next year, the company plans to distribute about 700 million littres of fuel and petroleum products in the country and for export.
In its service expansion planning from now until 2020, Petrotrade will focus on establishing more large petrol stations but the expansion of its medium and small stations will be slower, he explained.
Petro Trade focuses on fuel stations expansion as the company stresses its ability to provide complex services, so when customers stop to refill at the station they can also enjoy shopping, purchase food, drink coffee and relax at the site.
The company also focuses on human development for better services by training its staff and also working in cooperation with various partners.
Last year, Petro Trade had around 152 employees in total but this year that number increased to more than 190 people.
This year, Petro Trade has received students from universities in Thailand and Laos to learn with the company, which is part of the borderless project of the Phongsavanh Group in order to meet with the conditions of the Asean Economic Community.
Every year, Petro Trade also contributes significantly in terms of social assistance and corporate social responsibility as well as providing funds for events of national importance.
The Petroleum Trading Lao Public Company was listed on the Lao Securities Exchange at the end of 2014, which at that time was one of four companies listed on the LSX.
