With an investments of P123 million, Phoenix will put a 4.9 million liter-storage facility for petroleum products including bio-diesel, gasoline and jet fuel to serve the demands in the south.

The project was granted tax and fiscal incentives by the Board of Investments.

Phoenix, which also operates gas stations, said it will source its products from foreign oil companies and independent suppliers like Singapore Petroleum Corporation, Oronite Singapore, Petronas Malaysia and Formosa Petroleum Taiwan.

It will also engage in marketing and selling of petroleum products or fuels on wholesale basis through tankers and trucks to its own retail stations and other companies and industrial users in Mindanao specifically in Zamboanga.

The firm’s other major clients include YL Fishing, Escudero Trucking, Galactic Shipping Corporation and Metro Dizel Corporation.

The proposed project will generate a labor force of 12 personnel when commercial operation begin next month.