13 Dec 2000

SPC expands its service station network with addition of Tuas site

Singapore Petroleum Company Limited (SPC) will broaden and strengthen its retail network with the commissioning of its new Tuas petrol station in April 2001.

The Company has been awarded a 30-year lease site of 2,400 square metre at Tuas Avenue 3 at a tender price of S$6.78 million for petrol station development.

Mr Leon Codron, Chief Executive Officer of SPC, said, "We will continue to expand our network in Singapore through selective acquisition of high volume and growth locations and build a premium brand name in SPC, in line with our longer term strategic plan."

This petrol kiosk, SPC’s eighth service station, is expected to generate annual sales revenue of S$5 million, contributing to an increase in the sales volume of SPC’s retail network by about 20%. It will primarily serve the motorists moving in and out of the Tuas industrial area. Traffic movement in the area would increase significantly when the Jurong Island/Tuas View reclamation project is completed by 2005.

"Our top priority at Tuas is to provide a high standard of customer service that is second to none, supplying high quality premium grades of petrol, diesel and motor oils to the motorists at competitive prices. Our ultimate aim is to delight all our customers with a pleasant buying experience and ensure that they continue to patronize SPC’s service stations," said Chris Keong, Senior Vice-President for Marketing.

Planning and design of the station is currently underway. It will focus on a bright, safe, clean and environmentally friendly concept with a peak traffic congestion-free layout and the use of the latest technology equipment to render efficient and convenient service to motorists.

The service station will have six high tech multi-product dispensing equipment, a C-store, an auto service center and a modern automated car wash facility.

The quality motor fuels will be supplied by SPC’s world-class refinery on Jurong Island and the motor oils will come from Italsing Petroleum Company, SPC’s joint venture blending plant in Jurong.

SPC has seven other petrol stations, located in Pasir Ris, Yishun, Yio Chu Kang, Upper Thomson, Jalan Buroh, Bukit Timah and Market Street.

A subsidiary of Keppel FELS Energy and Infrastructure Ltd, SPC has recently acquired a 40% stake in Tiger Oil Corporation (TOC), a Korean independent oil company engaged in the downstream petroleum marketing businesses.

The acquisition of TOC, which currently has 35 service stations in Korea, is part of the company’s strategy to establish a significant presence in regional key markets.