Thai oil firm in P4-B expansion
Thai oil firm’s local subsidiary PTT Philippines Corp. (PTTPC) is gearing up for P3.5 billion to P4.0 billion expansion in the domestic oil market until 2009; which may involve transfer of its lubricant blending facility here.
The company, previously known as Subic Bay Distribution, Inc. (SBDI) has also renamed its trading arm, Subic Bay Fuels Co. (SBFCI) to PTT Philippines Trading Corp. (PTTTC).
According to Artasith Pothiapinyanvisuth, executive vice president for commercial and international marketing oil business group of PTT Public Co. Ltd. of Thailand, the company is seriously studying the possibility of transferring one of their existing lubricant blending plant to the country; but has not provided specific details yet.
Should plans push through, the first thing on their mind is to locate the blending facility to a site somewhere in Metro Manila.
For this venture alone, the Thai oil firm penciled in an investment of up to P1.0 billion.
Meanwhile, PTTPC president Siripong Phoungpaka noted that the P5-billion investment budget would be spread at P500 million a year.
He added that a good chunk of the investment budget shall be poured in for the construction of additional 50 retail gas stations all over the country in the next two years.
PPTPC currently has 16 gas refilling stations; and they expect this to be up to 100 to 200 stations nationwide in the next five years.
With the push on aggressive marketing strategies being embraced by almost all players in the oil industry, PTT is charting its own approach; and it counts the special economic zones among its potential market, primarily Subic and Clark freeport zones.
As far as other business expansions are concerned, PTT plans of setting up a liquefied petroleum gas (LPG) warehouse with a capacity of 5,000 metric tons (MT) to 10,000 MT.
The target is to set on commercial operation this facility by 2008 or 2009; simultaneous to the targeted commercial operation of the PTT LPG production in Thailand.
Pothiapinyanvisuth said the company sees "an opportunity for us to sell LPG to the Philippines which imports most its LPG requirements."
At this stage, PTT is lining up the completion of an oil depot in Cebu with 5.0 million capacity, which is eyed for commercial operation by November this year.
The handling capacity of the facility is intended to cater to the needs of the entire region.
The company’s five-year plan also slots in the possibility of putting up an ethanol plant as part of its contribution to the promotion of the use of alternative fuels in the transport sector. (MMV) Manila Bulletin
The company, previously known as Subic Bay Distribution, Inc. (SBDI) has also renamed its trading arm, Subic Bay Fuels Co. (SBFCI) to PTT Philippines Trading Corp. (PTTTC).
According to Artasith Pothiapinyanvisuth, executive vice president for commercial and international marketing oil business group of PTT Public Co. Ltd. of Thailand, the company is seriously studying the possibility of transferring one of their existing lubricant blending plant to the country; but has not provided specific details yet.
Should plans push through, the first thing on their mind is to locate the blending facility to a site somewhere in Metro Manila.
For this venture alone, the Thai oil firm penciled in an investment of up to P1.0 billion.
Meanwhile, PTTPC president Siripong Phoungpaka noted that the P5-billion investment budget would be spread at P500 million a year.
He added that a good chunk of the investment budget shall be poured in for the construction of additional 50 retail gas stations all over the country in the next two years.
PPTPC currently has 16 gas refilling stations; and they expect this to be up to 100 to 200 stations nationwide in the next five years.
With the push on aggressive marketing strategies being embraced by almost all players in the oil industry, PTT is charting its own approach; and it counts the special economic zones among its potential market, primarily Subic and Clark freeport zones.
As far as other business expansions are concerned, PTT plans of setting up a liquefied petroleum gas (LPG) warehouse with a capacity of 5,000 metric tons (MT) to 10,000 MT.
The target is to set on commercial operation this facility by 2008 or 2009; simultaneous to the targeted commercial operation of the PTT LPG production in Thailand.
Pothiapinyanvisuth said the company sees "an opportunity for us to sell LPG to the Philippines which imports most its LPG requirements."
At this stage, PTT is lining up the completion of an oil depot in Cebu with 5.0 million capacity, which is eyed for commercial operation by November this year.
The handling capacity of the facility is intended to cater to the needs of the entire region.
The company’s five-year plan also slots in the possibility of putting up an ethanol plant as part of its contribution to the promotion of the use of alternative fuels in the transport sector. (MMV) Manila Bulletin
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