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Manila Bulletin devider Business devider SEAOIL, Zamboanga ecozone partner for P740-M oil depot

SEAOIL, Zamboanga ecozone partner for P740-M oil depot

Published Jun 2, 2022 05:08 pm

SEAOIL, one of the leading independent fuel companies in the Philippines, is investing almost P740 million for the construction of a bulk terminal in the Zamboanga Economic Zone and cement its lead in the Mindanao region.

Stephen Yu, SEAOIL president for commercial business and COO, said the depot project is a partnership with the Zamboanga Economic Zone and Freeport Authority (ZFA) is designed for 18 million liters of storage capacity and can receive direct importations.

“This project widens SEAOIL’s lead in the Mindanao region in terms of storage capacity and capability to directly import petroleum products,” said Yu.

Yu noted that with 18-million liter storage capacity, the depot can receive direct importations. This project widens SEAOIL’s lead in the Mindanao region in terms of storage capacity and capability to directly import petroleum products.

This endeavor marks SEAOIL’s first business venture into an economic zone, beginning with a groundbreaking ceremony in Zamboanga on May 25, 2022.

Yu further said that the ZFA partnership solidified a 50-year agreement with the ecozone to create development projects and activities for terminal and jetty operations.

SEAOIL will lease 2.12 hectares in the ecozone, with an option to further expand. The terminal and jetty development is set to be completed by 2023, and operations are projected to begin in the fourth quarter of the same year.

“This partnership with ZFA is much more than a business decision for us at SEAOIL. By opening a terminal here in Zamboanga City, we can make our quality products more accessible to retail customers and commercial industries in the area. As we expand our retail footprint in Southern Mindanao, more fuel consumers from Zamboanga, Jolo, Sulu, and Tawi-tawi, among others, can experience how SEAOIL takes care of its customers through innovations such as the PriceLOCQ mobile app, which protects users from price hikes by enabling them to buy and store SEAOIL fuels for later use while prices are lower,” said Yu.

“The construction and operation of the facility will also provide more jobs and create more economic activities in the local community," he added. The joint effort brings over 300 jobs in construction and operations, 90% of which will come from the local communities of Zamboanga City.

“We welcome this partnership with open arms as this is an excellent opportunity to pump more economic activity into the city. We also look forward to the jobs this terminal will bring to our locals,” said ZFA Chairman Raul Regondola.

SEAOIL has over 650 branches nationwide with more being built this year to meet its target of having 1,000 branches in 2023. In 2020, the company introduced the fuel-saving app, PriceLOCQ, which currently has more than 200,000 active users.

In 2021, it launched PriceLOCQ for Business to also offer the unique price-locking feature to B2B customers. Last year, it launched LubeServ, SEAOIL’s own branded service center. LubeServ provides automotive repairs and lubricant services using SEAOIL products. LubeServ also has its home service version called LubeServ on Wheels that caters to customers who wish to have their repairs and mechanics done at their preferred location.

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