THREE (3) new 180,000 barrel fuel storage tanks have increased to 5.2 million barrels (827 M liters) the total fuel storage capacity of the Philippine Coastal Storage and Pipeline Corporation (PCSPC) here in the Subic Bay Freeport.
“This considerable increase in storage is in response to our customers’ demand for quality and available fuel storage in Subic Bay,” said Michael Rodriguez, chairman of PCSPC, “we are pleased to be able to provide this new expansion to accommodate their needs.”
The new tanks, built to today’s international standards by the Aboitiz Construction Group, Inc., along with two (2) new tank truck loading racks, were inaugurated recently with the presence of Subic Bay Metropolitan Authority (SBMA) Chairman Martin B. Diño, Administrator Wilma T. Eisma and other officials.
PCSPC’s strategic location in Subic 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.
“With our existing long term lease agreement with SBMA, 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,” Rodriguez said.
PCSPC operates the petroleum storage and pipeline facilities of the former US Naval Base here in Subic. Constructed in 1953, it has doubled its original 2.4 M barrels capacity over the past 6 years.
PCSPC was acquired in 2014 by the Philippine Investment Alliance for Infrastructure (PINAI) fund, a 10-year closed-end fund dedicated to equity investment in Philippine infrastructure, and managed by Macquire Infrastructure Management (Asia) Pty Limited. ###