Pryce Corporation chairman Salvado Escaño said the firm is eyeing an additional 20 Liquefied petroleum gas (LPG) refilling plants in Luzon to strengthen their brand in the region.
This will follow after the firm completes 30 other refilling facilities, and is expected to cost around P1 billion.
“The next batch of 20 LPG refilling plants will allow for deeper penetration of the market and pave the way for a more calibrated sale and dispersal of the PryceGas brand of LPG in Luzon,” Escaño said.
The project will be spearheaded by subsidiary Pryce Gases Inc. (PGI) and Oro Oxygen Corp. (OOC)
The company began its operations on the San Fabian LPG import terminal in Pangasinan in 2014. From there, PGI and OOC focused on the construction, acquisition and leasing of LPG refilling plants in Luzon to serve areas not reached by other LPG distribution networks, as well as to widen their market reach.
In May, Pryce Gases announced that they will be constructing a new LPG storage tank in Leyte with a capacity of 2,000 metric tons in its import marine terminal in Albuera, which services the rising demand in Visayas.