Phoenix eyes bitumen plant in Batangas
Phoenix Petroleum Philippines Inc. plans to put up a bitumen plant in Calaca, Batangas within the year as part of an aggressive expansion program.
“Yes, we are planning to put up our own plant in Calaca, Batangas together with our joint venture partner. No capacity yet. Within the year, we will be having the aspalt business in place,” Phoenix chief operating officer Henry Albert Fadullon said.
Phoenix earlier formed a joint venture company with a P275-million market capital with two investors for the operation, sale and distribution of bitumen in the country.
“Our plan with our partner is to offer different kind of technology for the construction industry and road,” Fadullon said.
Phoenix signed a joint venture agreement with TIPCO Asphalt Public Co. Ltd. and Carlito B. Castrillo of PhilAsphalt (Development) Corp. to operate, market and distribute bitumen and bitumen-related products in the country.
Phoenix and TIPCO Asphalt will each take a 40-percent stake in the joint venture while Castrillo of PhilAsphalt has 20 percent interest.
“Bitumen is the base product but I think within the bitumen phase, there is a lot of opportunity for innovation and I think that is where we see the opportunity in the Philippines... There are a host of other applications where bitumen can be made for and be made,” Fadullon said.
TIPCO Asphalt is the leading manufacturer and distributor of asphalt products for repairing, maintenance and servicing and construction of road pavements, highways and airport runways in Thailand and the Asia-Pacific region.
Its asphalt products are also sold to importers and road contractors in Africa, Australia and North America.
The joint venture will lease from Calaca Industrial and Seaport Part (formerly Phoenix Petroterminals & Industrial Park) a parcel of land with access to jetty and wharf facilities for the construction and establishment of a terminal.
Phoenix recently upgraded fuels powered with Phoenix PULSE Technology.
Available in all its fuel products, Phoenix PULSE Technology is an innovative formulation with advanced cleaning and protection properties for enhanced power and acceleration.