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Monday, July 15, 2024

Topline invests P210m to build more fuel stations in Cebu

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Top Line Business Development Corp. (Topline) invested around P210 million to finance the construction of seven new Light Fuels service stations and two Light Fuels Express service stations in Metro Cebu and Cebu province.

“We have only inaugurated last year our first service station under the Light Fuels brand, but we are continuing to expand our footprint in the retail fuel market as we chart our company’s growth to meet the growing demand in Central Visayas,” Topline chairman, president and chief executive Erik Lim said.

Topline aims to seize the growing demand in the retail fuel market with its state-of-the-art fuel stations as data from the Land and Transportation Office showed an 8.94 percent year-on-year increase in the number of registered new and renewed vehicles in Central Visayas.

“The retail fuel’s total projected annual volume for the 9 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,” Lim said.

The fuel service stations are operated by its subsidiary, Light Fuels Corp., and are expected to be operational within the year. The company inaugurated its first service station in February 2023 in Mandaue City.

The Light Fuels service station will incorporate cutting-edge technology, ensuring a quick and efficient fueling experience for customers such as RFID payment processing.  Its major service stations are also designed to embrace change and new power trends by including ready options for electric vehicle charging kits.

The stations also offer commercial opportunities for tenants seeking leasing options, adding a dynamic dimension to the space.

Light Fuels Express stations are designed to cater primarily to motorcycles, scooters and two-wheeled and light vehicles, recognizing that 68 percent of vehicles in Region VII are motorcycles based on LTO-VII’s records.

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

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