SUBIC BAY FREEPORT – The Philippine Coastal Storage and Pipeline Corp. (PCSPC) is expanding their fuel storage capacity to 6.3 million barrels inside this premier freeport.
During the groundbreaking ceremony here on July 11, Subic Bay Metropolitan Authority chairman and administrator Jonathan D. Tan disclosed that the company is set to construct two new 180,000-barrel-capacity fuel storage tanks this year and the next.
Tan was the guest of honor at the rites led by PCSPC CEO Richard Tiansay at the Maritan Tank Farm here. Senior deputy administrator for business and investment Renato Lee III, PCSPC CFO Tricianne Zingapan, Metalife Builders Development Company, Inc. president Arnel Dumalaog and vice president for operations Milo Sesante were also present.
According to Tiansay, the two 180,000-barrel-capactiy fuel storage tanks cost P800 million, with the first tank expected to be completed by March 2024, and the second by August 2024. The two tanks will also be constructed at the Maritan Tank Farm.
He added that the construction of these two tanks were tasked to Metalife Builders Development Company, Inc., since the company has adhered with international standards. Tiansay also said that all tanks will be equipped with safety and environmental control equipment including fire protection and pollution control.
Tan said the expansion of the company’s operations is welcome news, adding that part of his administration’s thrust is the development of existing companies inside the freeport. He also expressed that companies will certainly flourish under his term.
“We want Subic Bay Freeport to develop and become the preferred sustainable investment hub and eco-tourism destination in Asia Pacific by 2030. The construction of these two 180,000-barrel-capacity fuel storage tanks is a step forward towards that goal,” he added.
In 1993, PCSPC initially assumed operation that only had a 2.5-million barrels capacity. The company has expanded ever since. The Maritan expansion project, which started in 2012, is now on Phase 4 of the construction in the area.
The construction of the two barrels will increase the capacity of the PCSPC by up to 6.3-million barrels or one billion liters of fuel storage. Once operational, the project is expected to increase the vessel dockage at Subic Pier and tank truck deliveries, which will attract more petroleum fuel clients to utilize Subic Freeport as their fuel hub.
