Jetti Philippines pushes P1.2-B network expansion
Jetti Petroleum Inc. is looking to invest at least P1.2 billion to put up 80 more gas stations nationwide, with almost half of them eyed for the Mindanao market.
Leo Bellas, president of Jetti Petroleum, told reporters on Wednesday they currently have 220 stations across the country.
These facilities are company-owned, but are operated by a third party or dealers.
Jetti hopes to hit the 300 mark in two years, which means a delay from its previous goal set for early this year.
“We are embarking on completing or having available 300 stations … but of course, … after conducting our business review, we believe we can achieve the 300 mark by end of 2026,” he told reporters on Wednesday.
“The company decided that we have to increase [sites] and reinforce the brand through our retail stations. So that’s primarily what pushed us to embark on this massive construction and operation of retail stations,” Bellas said.
For this year, he expressed confidence about adding 40 more stations to their portfolio.
The executive said building one retail station, excluding expenses related to properties, would require about P15 million.
According to Bellas, funding will not be a problem for Jetti as they have already arranged agreements with banks.
While he did not provide specific figures, the official said Jetti plans to roll out more gas stations in Mindanao to take advantage of the region’s growing economy.
Meanwhile, Jetti held a grand launch for its first business center in Pasay City, a six-story structure at the corner of Diosdado Macapagal Boulevard and Coral Way.
