Jetti Petroleum hikes Mariveles bulk terminal investment to P1.5B

MANILA, Philippines - Jetti Petroleum Inc. (Jetti) has increased its investment for its bulk terminal in Mariveles, Bataan to P1.5 billion from the previous P1 billion.

The additional investment will be used for the development of the second phase of the project, which would boost the capacity of the project.

Under the second phase of the project, Jetti Petroleum will add 1.5 hectares to its existing two-hectare development. This would bring to 3.5 hectares its current landholding in the area, Jetti corporate affairs manager Leo Bellas said.

The first phase, meanwhile, will have a total storage capacity of almost 70 million liters. The additional works being done will push the completion and commercial operation of the terminal to within the first quarter of 2015, Bellas said.

Bellas said the company decided to proceed with the second phase of the project to maximize the usable area.

 “The idea of a Phase 2 was conceived in order to maximize the usable land area of the property. By expanding our holdings, we now have the capability of adding more storage tanks to meet the growing market need for quality fuels in Luzon,” Bellas said.

He said the second phase could accommodate additional storage tanks of varying sizes, totaling about 60 million liters in combined fuel capacity.

After the expansion of its bulk terminal, Bellas said the company is also eyeing to expand its other related businesses.

“Although the primary direction is to construct the Phase 2 storage tanks once Phase 1 storage capacity is deemed insufficient, the company will likewise be looking at expanding by way of other potential related businesses,” Bellas said.

With the Bataan bulk terminal, the company will have the logistics capability to cater to the rising demand for diesel, motor gasoline products, and bunker fuel oil in Luzon, including the possible storage and supply of bioethanol and aviation fuel needs in the region, Bellas said.

The Bataan depot will be Jetti’s second import facility next to its Tagoloan bulk terminal and will serve the product requirements for Luzon. As a result, Jetti does not have to transport fuel from Tagoloan to Luzon, translating to savings for the company.