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Philippine Coastal Storage and Pipeline Corporation completes its fuel storage expansionPosted on: July 27, 2017 12:00 PM
Philippine Coastal Storage and Pipeline Corporation (PCPSC) has successfully completed the construction of 540,000 barrels of additional storage capacity and loading facilities at its operations within Subic Bay Freeport Zone (SBFZ). Three (3) new 180,000 barrel fuel storage tanks and two (2) tank truck loading racks, were built over 12 months, on time and on budget, by Aboitiz Construction Group Inc. The new tanks, built to today's international standards, will increase PCSPC's total fuel storage to 5.2 million barrels (or 827 million litres) of various fuel products such as diesel, gasoline, jet and fuel oil. This also completes PCPSC's commitment to SBMA to invest and build 1.8 million barrels of fuel tank storage in Maritan tank farm.
Mr Michael Rodriguez, Chairman of PCSPC, said, "This considerable increase in storage is in response to our customers' demand for quality and available fuel storage in Subic Bay, and we are pleased to be able to provide this new expansion to accommodate their needs."
PCSPC's strategic location in the SBFZ provides for efficient importation of fuel products for storage and onward distribution along the network of well-maintained toll roads to Clark, Manila, Central and Northern Luzon. SBFZ also provides an efficient coastal location for hub operations with imports from regional refineries for onward export distribution to the region
Mr Rodriguez added, "With our existing long term lease agreement with Subic Bay Metropolitan Authority, PCSPC looks forward to being able to undertake further investment, as demand requires, in order to serve the increasing fuel needs of the Philippines now and in the future."
PCSPC operates the petroleum storage and pipeline facilities of the former Subic Bay Naval Base. The facility was originally constructed in 1953 with 2.4 million barrels of capacity. Capacity has doubled over the past 6 years. PCSPC was acquired by The Philippine Investment Alliance for Infrastructure (PINAI) fund in 2014. PINAI is a 10-year, closed-end fund, dedicated to equity investment in Philippine infrastructure, and managed by Macquarie Infrastructure Management (Asia) Pty Limited.