Subic Bay Freeport—Philippine Coastal Storage and Pipeline Corporation is expanding its fuel storage capacity to 6.3 million barrels inside this premier Freeport.
Subic Bay Metropolitan Authority chairman and administrator Jonathan Tan said the company is set to construct two new 180,000-barrel-capacity fuel storage tanks this year and the next.
Tan was the guest of honor at the groundbreaking ceremony led by PCSPC chief executive Richard Tiansay at the Maritan Tank Farm.
Senior deputy administrator for business and investment Renato Lee III, PCSPC chief finance officer Tricianne Zingapan, Metalife Builders Development Company Inc. president Arnel Dumalaog and vice president for operations Milo Sesante witnessed the ceremony.
Tiansay said the two 180,000-barrel-capactiy fuel storage tanks cost of P800-million, with the first tank expected to be completed by March 2024, and the second by August 2024.
The two tanks will also be constructed at the Maritan Tank Farm.
He said the construction of the two tanks was tasked to Metalife Builders Development Company which adheres to international standards.
Tiansay said all tanks would be equipped with safety and environmental control equipment including fire protection and pollution control.