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SEAOIL is investing almost P740 million to construct a bulk terminal in Zamboanga Economic Zone
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The depot project, which broke ground on May 25, is designed to handle 18 million liters and can receive direct importation
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The project, in partnership with the Zamboanga City Special Economic Zone Authority and Freeport, widens its lead in the Mindanao region in terms of storage capacity and capability to directly import petroleum products and marks the fuel company’s first business venture in an ecozone
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The terminal and jetty development is set to be completed by 2023, and operations are projected to begin in the fourth quarter of the same year
SEAOIL is investing almost P740 million to construct a bulk terminal in Zamboanga Economic Zone.
The oil depot project, which broke ground on May 25, is designed to handle 18 million liters and can receive direct importation.
SEAOIL said the project, in partnership with the Zamboanga City Special Economic Zone Authority and Freeport (ZFA), widens its lead in the Mindanao region in terms of storage capacity and capability to directly import petroleum products. It also marks the fuel company’s first business venture in an ecozone.
The project is covered by a 50-year agreement with the ecozone authority to create development projects and activities for terminal and jetty operations, ZFA said in a statement.
The total leased area amounts to 2.12 hectares, with an option to further expand. The terminal and jetty development is set to be completed by 2023, and operations are projected to begin in the fourth quarter of the same year.
SEAOIL president for commercial business and chief operating officer Stephen L. Yu said: “This partnership with ZFA is much more than a business decision for us at SEAOIL. By opening a terminal here in Zamboanga City, we can make our quality products more accessible to retail customers and commercial industries in the area.”
“The construction and operation of the facility will also provide more jobs and create more economic activities in the local community,” he added. The joint effort brings over 300 jobs in construction and operations, 90% of which will come from the local communities of Zamboanga City.
For his part, ZFA chairman and administrator Raul M. Regondola said they welcome the as it is “an excellent opportunity to pump more economic activity into the city.”
SEAOIL has over 650 branches nationwide with more being built this year to meet its target of having 1,000 branches in 2023.
