Unioil to spend P240M on expansion, modernization programs
Unioil to spend P240M on expansion, modernization programs
2/20/11 GMANews.TV
Independent oil player Unioil Petroleum Philippines Inc. will likely spend P240 million for the expansion of its retail stations and the modernization of its oil terminal, a company official said this weekend.
Unioil president Kenneth Pundanera said in an interview with reporters that the fund will partly include the construction of around 20 retail stations in Metro Manila.
Pundanera said each station is estimated to cost around P10 million, depending on the size and site of the station.
At present, Unioil has a total of 40 stations, located mostly in Metro Manila.
"The expansion program is not finalized yet. However, we have 10 stations that are currently under construction... The other 10 are still being negotiated," Pundanera said.
Unioil will also spend about P40 million for the modernization of its oil terminal in Lucanin, Bataan. The terminal has a capacity of one million barrels.
Recently, Unioil joined another independent oil player, Eastern Petroleum Corp., to offer Euro-4-compliant diesel products to consumers in Metro Manila. Euro-4-compliant fuel will lower harmful emissions by 60 percent. — JE, GMA News