PTT Philippines Corp. (PTTPC), the local subsidiary of Thailand’s largest petroleum company, said Monday that it has opened its first fuel depot on Mactan Island, Cebu.

The depot forms part of its multi-billion-peso investment plan over the next five years with its growing confidence in the Philippines and Thailand’s own desire to expand its business ties in the Asean region.

“The P100-million PTT Mactan Fuel Depot marks the first phase of the company’s expansion in the Visayas and will anchor the planned opening of multiple PTT service stations in the region,” said PTTPC chairman Artasith Pothianpinyan-visuth.

The PTT Mactan, which is in barangay Pajo, Lapu-Lapu City, has a total tank capacity of five million liters and is loadable by tanker or barge. PTT’s fuel depot will store gasoline, diesel and fuel oil products.

Pothianpinyanvisuth said the new depot will allow the company to proceed with its plan to put up 15 retail service stations in Cebu at a projected cost of P200 million.

Right now, PTT Philippines, according to Pothianpinyanvisuth, has 25 stations mostly in Luzon, though it plans to boost this to some 100 retail stations over the next three to five years.

A wholly owned company by Thai state company PTT Public Co. Ltd., Thailand’s biggest firm, PTT Philippines has its Luzon oil terminals that it leases in Subic and Clark.

Pothianpinyanvisuth said PTT Philippines is also considering putting up its own oil depot closer to the National Capital Region to save on transport costs and to better serve Filipino consumers.

“As we speak today, PTT is already looking for another location in the areas of Luzon, Batangas and Manila Bay to put up modern fuel tanks and depot with full automation and with the latest international standards in protection of the environment—probably the first in the Philippines,” Pothianpinyanvisuth said.

He added that PTT is planning to go into more energy-related businesses in the country in answer to the Philippine government’s call for more RP-Thai investments and as a sign of its renewed faith in improving Philippine prospects.

In its 10 years in the Philippines, PTT Philippines has steadily expanded its local presence, and is now looking at new projects like natural gas distribution, petrochemicals, and even refinery ventures together with private- and government-owned entities. 

“We hope to enter into fresh ventures to increase our involvement in the crucial energy sector, which includes the continuous expansion of our retail network, additional fuel-storage tanks and depots in other islands of the Philippines,” said Pothianpinyanvisuth.

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PTT Philippines Corp. (PTTPC), the local subsidiary of Thailand’s largest petroleum company, said Monday that it has opened its first fuel depot on Mactan Island, Cebu.

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