Fuel distributor and storage operator Phoenix Petroleum Philippines will spend around P1.5 billion (26 million) on expansion projects next year.
The funds will go towards the companys pipelined retail portfolio expansion and the construction of additional depots in Bacolod and Cagayan de Oro.
It will concentrate shoring up its handling facilities in Visayas and Mindanao; while Luzon may yet be at standstill because its Calaca depots capacity at 50 million litres will be enough to supply its expanding market in Luzon.
Phoenix Petroleum has depot and storage terminals in Davao, Batangas, Aklan, and Surigao. Its depots store a variety of chemical and petroleum products and are available as bulk storage facilities.