EASTERN Petroleum Corp. is confident that it will end the year with 400 EC gas stores servicing the Philippine market.
EC Gas is the oil firm’s LPG (liquefied petroleum gas) brand.
“I think we can achieve the 400 outlets across the country this year,” Eastern Petroleum President Fernando Martinez said.
There are now 125 EC Gas outlets spread all over the country. Fernandez said 125 more EC gas-store applicants are currently on process and will be part of the 400 target outlets for 2015.
“Today, we have 125 stores open. By September, there will be another 125. So, by December, we are positive that we will hit 400,” the company official said. The company launched in September 2013 its LPG business. Eastern Petroleum’s EC Gas is the first and only explosion proof and fiberglass composite LPG cylinder in the country.
EC Gas has been awarded as the most innovative product during the Entrepreneur and Franchise Expo 2014 last June.
Over the long term, the company targets to put up 5,000 outlets of its EC Gas in the next four to five years.
Earlier, the company said it was earmarking about P1.2 billion for the importation of 400,000 LPG tanks, P150 million for its LPG refilling facilities and P20 million to expand its LPG distribution network.