Anna Whitehouse, Total president and managing director, said the amount will be used for the construction of 16 new gasoline stations and 15 auto LPG (liquefied petroleum gas) facilities, mostly in Luzon.
At present, Total has a network of 98 gasoline stations and eight auto LPG stations, majority of which are located within Metro Manila and nearby provinces.
"Total is marking its 10th anniversary this year, and we look forward to celebrating the opening of our 100th station soon. We have also scheduled the upgrading of a number of stations and convenience stores this year," Whitehouse told reporters on Thursday.
Last August, Total, as part of its expansion in the provinces, opened five stations in Iloilo.
In addition to fully supporting the government on the Biofuels law, Total is also very bullish about the contribution it can make to the auto LPG industry.
"Auto LPG appeals to the gasoline motorist, especially those who travel a lot, because it is cleaner and substantially cheaper than gasoline," Whitehouse said.
Auto LPG is now offered in four Total service stations. At least 10 more sites will open this year.
The company has tied up with auto LPG conversion kit providers and operates four independent auto LPG stations. Total also supplies auto LPG for independent oil companies and taxi fleets.
Total has also specially formulated lubricants for vehicles that run on auto LPG.
Total, a wholly-owned subsidiary of Total SA, is the world’s fourth largest oil and gas company.
With over $80 million worth of investments in the Philippines, Total is the only international oil company since the deregulation to become involved in all aspects of oil distribution, with fuels, lubricants, LPG, special fluids and other products including chemicals.
Established in August 1997, TPC has increased its market share to four percent for fuels, four for lubricants and eight percent for LPG.