OR’s Board of Directors approved a partnership between PTTRM, its subsidiary, and CPE, a subsidiary of Charoen Pokphand Group, to establish a joint venture company, The Rest Village Co., Ltd, with a goal to develop and manage Sriracha Service Center on Intercity Motorway No.7
PTT Oil and Retail Business Public Company Limited (SET: OR) ’s Board of Directors, at meeting No.10/2566 on October 17, 2023, has resolved to approve a partnership between PTT Retail Management Company Limited (PTTRM), a wholly owned subsidiary of OR, and Charoen Pokphand Engineering Company Limited (CPE) to establish a joint venture company (The Rest Village Company Limited).
PTTRM and CPE will hold 55% stakes and 45% stakes, respectively, in the joint venture company with an initial registered capital of THB 150 million. The objective of the joint venture is to commercially develop and manage the Sriracha Service Center on the Intercity Motorway No.7, Bangkok-Ban Chang, Chonburi-Pattaya section (Rest Area Project) with an operational term of 32 years.
OR stated that this aligns with its strategy to strengthen the business through a combination of Mobility and Lifestyle sectors. The joint venture company has won the bid for private sector co-investment in the development and management of the Rest Area Project from the Department of Highways, Ministry of Transport. The contract was signed on September 19, 2024.
