Total to set aside Php300 million for major projects

Total Philippines Corp. set aside over Php300 million (US$6.43 million) for major projects this year, despite difficulties experienced by the industry last year. Ernst Wanten, president and managing director of Total, said the amount would fund the construction of retail service stations in Luzon and Visayas, as well as the logistics requirements for adapting to E10 (10% ethanol-blended gasoline), as mandated by the government. To complement its service station expansion, Total is also building a depot in Cebu, which would have an initial capacity of 2 million liters. The depot is expected to cost another Php20 million (US$428,400.93). (February 8, 2010)