By Myrna M. Velasco
Publicly-listed Phoenix Petroleum Philippines Inc. will soon up the stakes on industry competition in the asphalt production segment as it moves ahead on the planned construction of its bitumen facility this year at its preferred site in Batangas province.
This was indicated by Phoenix Petroleum Vice President Raymond T. Zorrilla, as he noted that most of the requisite approvals – including permitting processes, had already been worked on.
For this venture, Phoenix Petroleum sealed a joint venture deal with TIPCO Asphalt Public Company Ltd. (TIPCO) and Carlito B. Castrillo of PhilAsphalt Development Corporation last year for the “operation, marketing and distribution of bitumen and bitumen-related products in the Philippines.”
Hence, in the entire process of advancing this project, the Uy-led company also needed to wait for the necessary approval proceedings from its partner-firm.
Phoenix Petroleum Chief Operating Officer Henry Albert F. Fadullon has emphasized, “Our plan with our partner is to offer different kinds of technology for the construction industry and roads.”
“Bitumen is the base product, but I think within the bituminous pitch, there is a lot of opportunity for innovation…that is where we see the opportunity in the Philippines,” the Phoenix Petroleum executive explained.
As noted, the plant’s firm capacity is still being cast on blueprint, and the only project detail divulged had been the target on having this business segment add up to Phoenix Petroleum’s portfolio in the coming months.
The massive infrastructure build-up set forth by the Duterte administration is seen by many in the construction sector and related industries as prospect that could offer immense venture opportunities for bitumen facilities to cater to.
Asphalt is a mixture of dark bituminous pitch with sand or gravel – and is a beneficial element in surfacing roads as well as in roofing or flooring of construction works.
TIPCO Asphalt in particular is leaning on a track record of being the leading manufacturer and distributor of asphalt products for repairing, maintenance, servicing and construction of road pavements, highways and airports in Thailand and the Asia Pacific region.
This JV partner of Phoenix Petroleum in the asphalt industry has also been selling its products to importers and road contractors in Africa, Australia and North America.