Jetti sets P1.2-B station expansion
On average, each station requires an average investment of P15 million—depending on size and equipment.
Jetti President Leo Bellas.
Photo by Maria Romero for the Daily Tribune.
Daily TribuneOn average, each station requires an average investment of P15 million—depending on size and equipment.
Jetti President Leo Bellas.
Photo by Maria Romero for the Daily Tribune.
Independent oil player Jetti Petroleum, Inc. is intensifying its expansion efforts with a planned investment of at least P1.2 billion to add 80 more stations as it aims to reach 300 nationwide by the end of 2026.
Jetti President Leo Bellas said in an interview on Wednesday that the company’s aggressive growth is driven by rising demand, particularly in Mindanao. This year alone, the company expects to open 40 new stations, increasing its total network to 260 from the current 220.
On average, he said each station requires an investment of P15 million — depending on size and equipment.
“We are embarking on completing or having available 300 stations. After conducting our business review, we believe we can achieve the 300 mark by the end of 2026,” Bellas said.
The company’s expansion is funded through a mix of bank financing and internal cash flow.
“We have funding already for that. It's funded by other banks and also from the generation of cash from the company,” Bellas added.
Jetti currently operates 220 stations, with 35 percent in Luzon, another 35 percent in Mindanao, and the rest spread across the Visayas.
The independent fuel retailer has captured about 5 percent of the market and has ramped up its growth trajectory in recent years.
“Until 2018, the expansion was just average, but eventually, the company decided that we have to increase and reinforce the brand through our retail stations,” Bellas explained.
Jetti recently inaugurated its newly rehabilitated station on Macapagal Boulevard in Pasay City. The station, which first opened in 2004, underwent a P15.5 million renovation and reopened last week with upgraded facilities and a business center.
The Macapagal station is one of the first petroleum outlets in the city’s central business district and has served as a key fuel and service hub for motorists and public utility vehicles for over 15 years.