Cebu-based firm Top Line Business Development Corp. has allotted P210 million to finance the construction of additional seven Light Fuels service stations and two Light Fuels Express service stations in Cebu Province and Metro Cebu.
Top Line said the nine additional stations operated by its subsidiary, Light Fuels Corp. are all expected to be operational within the year.
The company said the express station format is dedicated primarily to motorcycles, scooters, and all two-wheeled and light vehicles as it is designed for lesser space requirements and high motorcycle service turnovers. Meanwhile, its regular stations can cater to all vehicle types.
At present, there is only one Light Fuels Station located in A.C. Cortes Ave., Mandaue City, Cebu which was opened in February last year.
“The retail fuel’s total project annual volume for the nine service stations is approximately 12 million to 12.5 million liters. With more liquid fuel supply in the market, we aim to contribute to the region’s fuel security especially amid supply risks,” said Erik Lim, Topline chairman, president and chief executive officer, in a statement.
Topline sees a growing fuel demand in Central Visayas, reflected by an 8.94 percent year-on-year increase in the number of registered new and renewed vehicles in the region, based on the latest data from the Land and Transportation Office.
The company said its upcoming Light Fuels service stations will incorporate modern technology, including RFID payment processing as well as ready options for electric vehicle charging kits.
Topline added premises of the service stations will also offer commercial opportunities for tenants seeking leasing options.
The company said that it has considered express stations as part of its portfolio since 68 percent of vehicles in Central Visayas are found to be motorcycles based on latest records.
Topline said its other company, Topline Logistics and Development Corp., will supply and distribute liquid fuel to Light Fuels service stations as part of a synergy strategy through vertical integration to optimize costs and mitigate supply chain risks.
