Thai fuel retailer wants to team with sugar mills on ethanol production

In Thailand, the country’s six-largest fuel retailer PTG Energy, is looking to tie up with sugar millers who haven’t yet invested in ethanol production to do so. The company raised $49.7 million in an IPO last year but hasn’t yet spent the money. Negotiations with mills could take another two or three months to be finalized. PTG Energy is looking to increase its gas stations to 1,000 this year, up from 739 last year, but most of them are small and on secondary roads.