MANILA, Philippines - Seaoil Philippines will open its biggest oil storage facility in Sta. Cruz, Davao del Sur on Saturday.
"We invested P500 million for this depot alone. We saw the need for the construction of a new liquid bulk storage terminal to serve the growing demand of fuel products in Southern Mindanao area,” said Stephen Yu, Seaoil Chief Operations Officer.
The terminal, with its 41-million liter capacity, will be the largest in Mindanao. Its berthing facility can receive medium-range vessels of up to 50,000 deadweight tonnage (DWT), as well as handle domestic size tankers for local distribution and sales.
"The Seaoil Sta. Cruz Bulk Terminal should be able to serve around 200 stations that will employ about 2,000 people directly and upwards of that number indirectly. It shall also serve other commercial industries in the surrounding area and provinces. As the terminal shall import directly in large quantities, it shall be able to reduce if not eliminate domestic marine freight costs providing for a fundamentally lower cost structure," Yu said.
At the same time, Seaoil is setting aside P1 billion to P2 billion for its network expansion this year. Twenty stations are expected to be constructed this year.
Seaoil expects to have 500 stations by 2015, with revised signage and priceboard designs and brighter LED lighting. At present, the company has around 363 stations nationwide, with nearly 100 stations in Mindanao.
Yu said they expect to construct 100 more stations in the next three years to bring its market share in Mindanao to 20-25%.
"Mindanao is still underserved," he said.
Meanwhile, Seaoil said its megastation along the Subic-Clark-Tarlac Expressway (SCTEX) will be fully operational by the first quarter of 2015.
The Bases Conversion and Development Authority (BCDA) had awarded the contract for the Concepcion Service Area, located at the SCTEX Clark-bound/south-bound direction of the Clark-Tarlac segment, to Seaoil.
The service area will have a gasoline station, restrooms, sufficient and adequate parking slots, emergency First Aid station, potable water and lighting system, emergency vehicle repair shop and convenience stores.