Image via WikipediaPublicly-listed Phoenix Petroleum Philippines Inc. has earmarked P1.5 billion capital expenditures (capex) for next year, mainly to bankroll its expansion projects.
It was gathered from company officials that this will fund the company’s pipelined retail portfolio expansion and the construction of additional depots in Bacolod and Cagayan de Oro.
The company said it will concentrate shoring up its handling facilities in Visayas and Mindanao; while Luzon may yet be at standstill because its Calaca depot’s capacity at 50 million liters can already be classified “immense” and will be enough to supply its expanding market in Luzon.
As far as the targeted number of stations in Luzon is concerned, the company has not given any specific number but it indicated that expansions will be done in various parts of the country.
In a disclosure to the Philippine Stock Exchange (PSE), the oil firm said this (capex) will be allotted for the “expansion of the company’s operations such as but not limited to retail network and depot facilities as well as supply operations.”
http://www.mb.com.ph/node/291341/phoenix-petroleum-
No comments:
Post a Comment