Makati—(PHStocks)—Salvador P. Escaño, Chairman of Pryce Corp. (PSE: PPC), confirmed today that its subsidiary Pryce Gases Inc. (PGI) and PGI’s subsidiary Oro Oxygen Corp. (OOC) look to add another twenty (20) liquefied petroleum gas (LPG) refilling plants in Luzon after the completion of the first batch of thirty (30) refilling plants on 15 July 2016.
Soon after commencement of commercial operations of its San Fabian LPG import terminal in Brgy. Tiblong, San Fabian, Pangasinan in January 2014, PGI and OOC focused on constructing, acquiring or leasing LPG refilling plants in selected areas all over Luzon to increase its market reach and even serve far flung areas not covered by existing LPG distribution networks.
According to Escaño, 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. PryceGas is a respected and well-established brand in Visayas and Mindanao and has been in the market since 1997.
Pryce expects to spend some PhP1 billion for these refilling plants.