PTT Plc and Mitsui & Co (Thailand) Ltd have signed a cooperation agreement on the development of robotics and artificial intelligence (AI).
The joint venture focuses on creating a value-based economy that is driven by innovation, digital systems, and high-tech automation in the industrial sector.
PTT chief technology and engineering officer Wittawat Svasti-xuto revealed that the agreement was a significant milestone for PTT’s new business investment strategy to foster sustainable growth while addressing challenges of the digital transformation.
With a strong determination to promote the use of robot technology, automation and intelligent solutions in the industrial sector, this business partnership would emphasise the expertise of the two partners that would be beneficial to industrial development.
In the initial phase, PTT and Mitsui & Co will focus on developing a System Integrator capability to help local players and potential customers create added value throughout the business chain, based on technology and digital expertise.
Mitsui & Co Ltd is one of the largest and most prominent global trading and investment companies while Mitsui & Co (Thailand) Ltd, an affiliate of Mitsui & Co, has a long presence in Thailand.
Since the 1950s, Mitsui & Co has built a diverse portfolio of businesses in the country covering oil and gas, steel, infrastructure, machinery, vehicles, chemicals, food and ICT.
Wittawat said: “Today’s cooperation will be a mechanism that drive our country’s economy by encouraging the industrial sector to use robotics and artificial intelligence in response to the government’s Thailand 4.0 policy. Therefore, the expansion of production will occur, leading to a growing robotics industry and widespread automation that is aligned with the New S-Curve industries, the country’s strategic industries.
“The collaboration will play a part in driving Thailand’s economic development through innovation. It can also increase the potential to expand business opportunities to the world market in the future,” he said.
THE NATION (THAILAND)/ASIA NEWS NETWORK