Philippines: P500m Expansion Planned for Phoenix Petroleum
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Tuesday, 20 December 2011 |
Phoenix Petroleum Philippines Inc. will invest P500m in 2012 on the construction of 100 new fuel service stations stations throughout the Philippines, the company announced.
Phoenix, which says its vision is to become the leading independent player in the Philippines both in terms of network and market share, believes that all 100 stations will be completed by the end of next year. 20 stations will be built in the Visayas, while Luzon and Mindanao will have 40 new stations each before 2013. Once all stations have been completed, the move will bring Phoenix’s number of outlets to 320.
The funds for the expansion come from company savings and through a loan facility.
PetrolWorld 20122011
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