Politics

Topline invests P210M in expansion of fuel station network in Cebu

1 Mins read

TOP LINE Business Development Corp. (Topline), a property management, franchising, and fuel distribution company, said it has allocated approximately P210 million to finance the construction of its nine fuel stations in Cebu.

“We inaugurated our first service station under the Light Fuels brand just last year, and we are now expanding our footprint in the retail fuel market as we map out our company’s growth to meet the increasing demand in Central Visayas,” Topline President and Chief Executive Officer Erik Lim said in a statement.

“The total annual project volume for the [nine] service stations is estimated to be approximately 12 million to 12.5 million liters. By increasing the supply of liquid fuel in the market, we aim to contribute to the region’s fuel security, especially in the face of supply risks,” Mr. Lim added.

The fuel service stations will be operated by its subsidiary, Light Fuels Corp., and are scheduled to commence operations within the year.

Topline Logistics and Development Corp., another subsidiary of Topline, will supply and distribute liquid fuel to Light Fuel stations as part of Topline’s synergy strategy through vertical integration to optimize costs and mitigate supply chain risks.

Topline Logistics aims to engage in the importation, trading, distribution, and marketing of petroleum-based products, while Light Fuels is involved in the fuel retail sector.

Their parent company, based in Cebu, is actively involved in commercial fuel trading, depot operations, and retail fuel in the Visayas region. — Sheldeen Joy Talavera