Thailand’s oil giant Is going on a green spending spree

Thailand's state owned petrol giant PTT Pcl is going on a green spending spree, investing billions on electric-vehicle and renewable-energy companies and tilting its traditional businesses toward chemicals and plastics. — AFP/Relaxnews

Thailand’s oil giant, whose sales account for about 10% of the nation’s economic output, is suddenly spending billions of dollars on electric-vehicle and renewable-energy companies and tilting its traditional businesses toward chemicals and plastics.

PTT Pcl announced investments of almost US$10bil (RM42.36bil) since May to build an EV business and snap up petrochemical assets in Europe and renewable-energy projects in Asia. And the group isn’t done yet.