Ang Pahayagan

SUBIC BAY FREEPORT: The Philippine Coastal Storage and Pipeline Corp. (PCSPC) is expanding its fuel storage capacity to 6.3 million barrels inside this premier Freeport and was set to construct two new 180,000-barrel capacity fuel storage tanks that would be operational by next year.

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Jonathan Tan was guest of honor at the groundbreaking ceremony, which was also attended by PCSPC Chief Executive Officer Richard Tiansay at the Maritan Tank Farm here.

Senior Deputy Administrator for Business and Investment Renato Lee 3rd, PCSPC Chief Finance Officer Tricianne Zingapan, MetalifeBuilders Development Co. Inc. President Arnel Dumalaog, and Vice President for Operations Milo Sesante were also present to witness the ceremony.

Tiansay said the two 180,000-barrel capacity fuel storage tanks cost P800 million. The first tank is expected to be completed by March 2024, while the second tank by August 2024.

The two tanks will also be constructed at the Maritan Tank Farm.

“The construction of these two tanks was assigned to Metalife Builders Development Co. Inc. since the company has adhered to international standards,” Tiansay said.

In 1993, PCSPC initially assumed operation with a 2.5-million barrel capacity. The company has expanded since. The Maritan expansion project, which started in 2012, is now in phase 4 of construction in the area.

The construction of the two tanks will increase the capacity of the PCSPC to 6.3 million barrels or 1 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.