The SEAOIL Zamboanga bulk terminal is designed to handle 18 million liters and can receive direct importation.
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SEAOIL breaks ground for P740-million bulk terminal in Zamboanga Economic Zone
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The depot is designed to handle 18 million liters of petroleum and can receive direct importation
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The investment widens SEAOIL’s lead in Mindanao in storage capacity and capability to directly import petroleum products
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The project is the fuel company’s first business venture in an ecozone
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The terminal and jetty development should be completed next year with operations to begin in the fourth quarter
SEAOIL is investing nearly P740 million to build a bulk terminal in Zamboanga Economic Zone.
The depot project, which broke ground on May 25, is designed to handle 18 million liters and can receive direct importation, the independent fuel company said in a statement.
SEAOIL said the project, in partnership with the Zamboanga City Special Economic Zone Authority and Freeport (ZFA), widens the company’s lead in Mindanao 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 SEAOIL bulk terminal project is covered by a 50-year agreement with the ecozone authority to create development projects and activities for terminal and jetty operations.
The total leased area is 2.12 hectares, with an option for further expansion. 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.
Stephen L. Yu, SEAOIL president for commercial business and chief operating officer, 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.”
He added that the construction and operation of the SEAOIL bulk terminal 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.
ZFA chairman and administrator Raul Regondola said the project is welcome as it is “an excellent opportunity to pump more economic activity into the city.”
SEAOIL has more than 650 branches nationwide with more being built this year to meet its target of having 1,000 branches in 2023.
