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PIA Press Release
2008/11/05

PGMA to inaugurate Petron's $2.5-million fuel additives blending plant in Subic

Manila (5 November) -- President Gloria Macalagal-Arroyo will inaugurate Petron Corporation's newly-constructed fuel additives blending plant in Subic, Zambales on Thursday, Nov. 6.

The Petron Fuel Additives Blending plant was borne out of a Fuel Additives Blending Agreement entered into by Petron and Innospec (formerly Associated Octel Ltd.), a leading global fuel additives supplier, in 2007.

The Petron is obligated under the agreement to build and operate a $2.5-million blending plant at the Subic Freeport Zone that will serve the fuel additives requirements of Innospec's customers in the Asia-Pacific region, including Petron.

The 10-year contract guarantees that Petron will be Innospec's exclusive toll blender in the region.

Upon the President's inaugural switch-on, the fuel additive blending plant will have a blending capacity of 50 metric tons with a maximum bulk capacity of 770 metric tons per day.

Joining the President for the occasion will be local government officials of Bataan and Zambales led by Zambales Gov. Amor Deloso, Bataan Gov. Enrique Garcia and Olongapo City Mayor James Gordon.

Zambales 1st District Rep. Antonio Diaz, 2nd District Rep. Mitos Magsaysay and their counterparts in Bataan 1st District Rep. Herminia Roman and 2nd District Rep Albert Garcia are also expected to join the President for the inaugural event.

Petron and Innospec officials led by its chairman and CEO Nicasio Alcantara and vice president Miltos Papachristos, respectively, will also be present during the occasion. (PIA-MMIO) [top]

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