Bangkok: Bangchak Corporation Public Company Limited has announced an ambitious new strategy, “Bangchak 100x,” with the aim of doubling its EBITDA by 2028. The company’s plan includes a substantial investment of 35 billion baht over the next three years to bolster its core business, expand into future infrastructure, and promote sustainable growth.
According to Thai News Agency, Mr. Chaiwat Kovavisarach, Chief Executive Officer of Bangchak Group and President of Bangchak Corporation Public Company Limited, emphasized the company’s resolve to confront current global challenges, including geopolitical instability, fluctuating energy prices, and climate change pressures. Despite the global trend towards decarbonization, hydrocarbons are expected to remain a dominant fuel source until 2050. Bangchak is therefore accelerating its Bangchak 100x strategy, focusing on investments that offer returns while expanding its international operations. The strategy emphasizes value creation and efficient capital utilization to maintain leadership in top-tier shareholder return (TSR), where it has outperformed competitors over the past five years, with plans for further enhancement.
The strategy encompasses four main axes: setting ambitious growth targets, securing energy sustainability, restructuring for profitability, and delivering shareholder value through a three-year share buyback program. The integration of Bangchak’s Phra Khanong and Sriracha refineries aims to enhance efficiency and expand refining capacity. In biofuels, ethanol and biodiesel production capacities are set to increase, aligning with the company’s goals for sustainable energy solutions.
The company also plans to expand its marketing reach, with a target of over 2,300 service stations by 2028 and an increased oil market share. Furthermore, the Oil Trading Business Group is being positioned as a new growth engine, focusing on asset-backed energy trading and market expansion.
In the upstream sector, Bangchak aims to become a leading petroleum operator in Southeast Asia, leveraging international expertise for efficient site management and stable cash flows. The Power and Infrastructure business group will focus on renewable energy and strategic infrastructure investments to boost EBITDA significantly.
Additionally, Bangchak is investing in new business ventures, focusing on clean energy and modern digital experiences to drive growth and sustainability. The company’s comprehensive investment strategy is designed to strengthen its core operations while exploring new opportunities for stable, long-term growth.