MANILA -- Pascal Resources Energy Inc. (PREI), maker of innovative refillable liquefied petroleum gasoline (LPG) canister, plans to invest an additional PHP800 million to put up two more facilities in the country to boost its current capacity and meet growing demand.
PREI Chief Executive Officer Nelson Par said they intend to establish next year an LPG canister refilling facility in Iloilo to serve customers in the regions of the Visayas, and probably another one Mindanao.
“I’m looking at Iloilo actually and maybe in Jasaan (in Misamis Oriental) Mindanao, there is a property available there,” Par told reporters on Monday, as he expressed hope to serve six million households over the next five years.
The company currently serves 150,000 households.
Par added they look forward to having support of the banks.
PREI already invested an initial PHP500 million to boost the capacity of its canister refilling facility in Lubao, Pampanga, which will become fully operational by January 2020. It produces three million LPG canisters a month.
Nathaniel Camat, Vice President for Planning and Business Development, said they aim to double their regional distributors up to 28 by the first quarter of 2020 to meet growing demand.
The company creates and distributes Gaz Lite refillable LPG canister which remains the first and only government safety-certified and approved LPG canister in the country.
Gaz Lite carries a Philippine Standard mark from the Department of Trade and Industry’s Bureau of Philippine Standards, and an Intellectual Property Office (IPO) utility model which acts similarly to a patent.
“Our plan is to significantly scale by making the product accessible nationwide through the appointment of distributor partners in various regions across the country,” Par said.
PREI plans to make Gaz Lite more easily available in supermarkets, hardware stores, and small groceries, and neighborhood sari-sari stores.
Its target market is comprised mainly of consumers who purchase regularly from sari-sari stores who still use solid fuels and find an LPG tank purchase prohibitive.
Par further said they target to generate a revenue of PHP220 million by 2020 from this year’s estimated PHP100 million. (PNA)
