Phoenix Petroleum readies bitumen plant
Danessa Rivera (The Philippine Star) - February 14, 2018 - 12:00am

MANILA, Philippines — Phoenix Petroleum Philippines Inc. is putting up a bitumen facility to finally launch its asphalt production business within the year, a ranking company official said.

The oil company and its joint venture partners will put up a bitumen plant in Calaca, Batangas, the firm’s chief operating officer Henry Albert Fadullon said in an interview with reporters late Monday.

“We don’t know the capacity yet but it will come very soon. (It should be up) within the year, we will be having the asphalt business in place,” he said.

Last month, Phoenix Petroleum said it would execute a joint venture agreement (JVA) with Thailand-based TIPCO Asphalt Public Co., Ltd. and Carlito B. Castrillo of PhilAsphalt (Dev’t) Corp. to enter the business of of bitumen and bitumen-related products in the Philippines.

A JV company will be formed 30 days after the signing—with Phoenix Petroleum owning 40 percent, TIPCO Asphalt another 40 percent and PhilAsphalt with 20 percent.

The partners will to secure a lease from Calaca Industrial and Seaport Part for a parcel of land with access to its jetty and wharf facilities for the construction and establishment of a terminal.

Bitumen is a residue from oil being used as a component for making asphalt.

Fadullon said the partners see a lot of opportunities in the country for bitumen production, particularly on road development and construction.

“Our plan is with our partner is to offer a different kind of technology for the construction industry. Bitumen is the base product but I think within the bitumen phase, there is a lot of opportunity for innovation and I think that is where we see the opportunity in the Philippines,” he said.

“There are a host of other applications where bitumen can be made for and be made,” the Phoenix executive said.

LTD. PHOENIX PETROLEUM PHILIPPINES TIPCO ASPHALT PUBLIC CO.
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