Seaoil Phillippines Inc. has opened its largest oil storage facility in Sta. Cruz, Davao del Sur.
At a total cost of P500 million, the terminal has storage space maxing around 41-million litres and can accommodate vessels up to 50,000 deadweight tonnes.
The terminal was officially opened this Saturday, although operations have been running smoothly since November last year.
Seaoil now operate a total of ten depots and terminals around the country, with a total capacity of 160 million-litres.
Of the ten, four are located in the Visayas region and another four are located in Luzon.
The addition of the Sta. Cruz terminal alongside that of Dipolog expresses plans by Seaoil to expand into what they consider the “underserved” market of Mindanao.
By opening the new terminal, the company no longer need to import oil from Manila, greatly reducing costs and allowing for stable oil prices.
Steven Yu, speaking about the new terminal said: “The Seaoil Sta. Cruz Bulk Terminal should be able to serve around 200 stations that will employ about 2,000 people directly and upwards of that number indirectly. It shall also serve other commercial industries in the surrounding area and provinces. As the terminal shall import directly in large quantities, it shall be able to reduce if not eliminate domestic marine freight costs providing for a fundamentally lower cost structure.”
Seaoil are believed to be investing about P2.8 billion in 2014 with hopes of massively expanding operations nationwide. By 2015 they hope to be managing up to 500 stations.
This includes plans to construct their first ever ‘Megastation’ located near the Subic-Clark-Tarlac-Expressway (SCTEX), after successfully bidding on two-hectares of land.
The Bases Conversion and Development Authority, who are in charge of the project, will enter into a 25-year lease and development agreement with Seaoil.
The megastation is expected to include parking areas, emergency stations, convenience stores and restaurants. It is believed that the development should be operational within the first quarter of 2015.