Total allots P120 million for expansion

MANILA, Philippines - Total Philippines Inc. will spend P120 million to expand its operations in Cebu, a top company official said.

Ernst Wanten, the company’s president and managing director, said the expansion program is an indication of their long-term commitment to continue to do business in the country despite the setbacks that confronted the industry recently.

Wanten said Total is putting up at least 10 retail stations in Cebu and has set aside about P100 million for this endeavor.

He said they expect to complete the first station in Cebu before the end of the year. Before the end of 2010, they hope to complete the 10 stations.

“We’re building now our first service station and will be opened shortly before Christmas.

In the next six months we’ll build three and before the end of 2010, we would have built 10 stations around Cebu,” he said.

To complement such move, Wanten said they would be setting up an oil warehouse in the province. “We’ll build a depot with in Cebu,” he said.