Phoenix starts Batangas plant for asphalt
Phoenix Petroleum Philippines Inc. and its partners have started constructing their asphalt plant at Calaca Industrial Seaport Park in Batangas.
The groundbreaking for the asphalt facility under Phoenix Asphalt Philippines is in support of the government’s Build, Build, Build program, Phoenix Petroleum chief operating officer Henry Albert Fadullon said.
Phoenix Asphalt is the the joint venture of Phoenix Petroleum, Thailand-based TIPCO Asphalt Public Co. Ltd, and PhilAsphalt Development Corp.
TIPCO Asphalt is the leading manufacturer and distributor of asphalt products in Thailand and the Asia-Pacific region.
PhilAsphalt is engage in the marketing, distribution and trading of all kinds of bitumen and bitumen related products.
In January, the three companies forged a deal to put up the joint venture company that will manufacture, operate, market, and distribute asphalt, asphaltrelated products and other byproducts of crude oil, and other petroleum products, and operate terminals and depots in the Philippines.
Phoenix and TIPCO Asphalt each have a 40-percent stake in the joint venture, while PhilAsphalt has 20 percent interest.
Phoenix Asphalt is part of Phoenix Petroleum’s aggressive expansion plan that started with the acquisition of Petronas Energy Philippines Inc. and Philippine FamilyMart, and the establishment of PNX Petroleum Singapore Pte Ltd. last year.
Joseph John Ong, former chief finance officer and now head of corporate finance at Phoenix, said the company’s bitumen facility is expected to be completed within the year, but would be operational next year.
Construction of the facility will take about eight to 10 months. The facility will be processing asphalt by emulsifying bitumen brought in by TIPCO Asphalt.
Phoenix Petroleum is engaged in the nationwide trading and marketing of refined petroleum products, including LPG and lubricants, operation of oil depots and storage facilities, hauling and into-plane services; convenience store retailing; and trading and supply.