PTT Reduces ฿15bn on 2020 Investment Plan due to Covid-19 Pandemic and Oil Price War

PTT Reduces ฿15bn on 2020 Investment Plan due to Covid-19 Pandemic and Oil Price War

PTT Public Company Limited (PTT) announced the Board of Directors Meeting, which held on May 28, 2020, has reviewed and approved the revision of PTT and its wholly owned subsidiaries investment plan for year 2020 from 69,310 million baht to 53,901 million baht, a 15,409 million baht decrease.

 

The investment plan revision included businesses, such as Gas business, decreasing to 3,461 million baht from 5,799 million baht, Transmissions business, decreasing to 9,005 million baht from 9,579 million baht , Technology and Engineering sector, decreasing to 3,722 million baht from 5,836 million baht and Wholly Owned Subsidiaries, decreasing to 37,017 million baht from 47,204 million baht.

 

The revision of 2020 investment plan are mainly in the wholly owned subsidiaries, Gas business, and Technology and Engineering business which primarily reduced the projects that have not been started. However, the investment inprojects under construction such as the 5th transmission pipeline, RA#6 – Ratchaburi pipeline, the 2nd Liquefied Natural Gas (LNG) receiving terminal, etc. is still proceeding as planned. The reduction of investment plan resulted from the management “Decrease-Discard-Defer” measures to cope with the economic circumstance which is impacted by the coronavirus disease 2019 (COVID-19) pandemic and oil price war.

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