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PTT railway deal gets up a head of steam
Thai giant PTT Public Company Limited, a master in the production of industrial lubricants, is ontrack to strike a deal with state-run Vietnam Railway Corporation.
At last week’s meeting between PTT Lubricants team and Vietnam Railway Corporation (VRC), a representative of locally-owned Viet Thai Imex - PTT Lubricants’ authorised distributor, said the Thai company was “eager to ink a cooperation deal with VRC as soon as possible, so that it can provide its high-quality lubricants to VRC.”
To seek such cooperation with VRC, PTT has sent the trial lubricants product to test in real locomotives since last year.
“Results from the first stage of trial running are good, but more trials are needed,” said VRC’s general director Nguyen Dat Tuong. “After all the trials are completed, we will officially consider the use of PTT Lubricants.”
PTT Lubricants executive vice president Kris Imsang said: “PTT wants VRC to be one of our big partners in Vietnam. In our overseas business strategy, VRC must be an important partner. Our lubricants are internationally-recognised and are quite suitable to VRC’s locomotives, with competitive prices and services.”
At present, VRC is using lubricants from global brands such as Caltex, Shell and Castrol.
“If your products have competitive prices and services, we can accept them. I believe that we can cooperate with each other,” Tuong said, adding that VRC also wanted to cooperate with PTT in biofuels.
PTT’s lubricants are being used in many nations worldwide, and occupy 40 per cent of Thailand’s lubricant market share. This company is also the sole lubricant supplier for State Railway of Thailand.
PTT Public Company’s paremt is PTT Group. PTT Group has a large global profile, ranking 95th on Fortune 500 with annual revenue from all its business sectors hitting $80 billion.
PTT recently announced it would invest $27 billion in an oil refinery and petrochemical complex in central Binh Dinh province. PTT has been operating in Vietnam for 20 years, with big partners like PetroVietnam and PetroVietnam Gas Corporation in LPG business and trading business.
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