TOP LINE Business Development Corp. said it plans to construct an energy complex in Cebu that would quadruple its fuel storage capability, because the listed company ramps up expansion following its market debut and planned follow-on offering.
In an announcement on Tuesday, the Cebu-based fuel retailer said the proposed Top Line Energy Complex will function its fundamental logistics and distribution hub and support efforts to strengthen fuel supply within the Visayas.
As a part of the project, Top Line entered right into a sublease agreement with agri-industrial firm Lu Do & LuYm Group for an roughly 30-million-liter fuel depot facility in Cebu.
The initial phase of the project will involve refurbishing and optimizing the depot facility, with completion targeted by the fourth quarter of 2026.
Once operational, the power is predicted to extend Top Line’s storage capability fourfold from its current 10 million liters, improving logistics efficiency and provide chain reliability, the corporate said.
“We’re entering our next phase of growth, and the Top Line Energy Complex is a cornerstone for our continued expansion,” Top Line Chairman, President, and Chief Executive Officer Eugene Erik C. Lim said.
“Through this agreement, we’re strengthening our ability and capability to expand to serve the growing energy needs of our customers while supporting broader efforts to enhance regional energy security,” he added.
The corporate said additionally it is studying additional development phases that would further expand the power’s storage capability depending on market demand.
Top Line previously said it’s preparing for broader depot development projects to expand storage operations, with estimated costs reaching as much as P1 billion.
The corporate has earmarked as much as P440 million from the proceeds of its planned P1.9-billion follow-on offering for depot expansion initiatives.
Top Line returned to the equity market after its stock market debut in 2025, when it raised P732.6 million.
Originally engaged in leasing and real estate, the corporate entered the fuel sector in 2017 and has since expanded into business fuel trading, depot operations, and retail fuel distribution within the Visayas.
Through its Light Fuels brand, Top Line opened its first service station in Mandaue City, Cebu, in 2023. — Sheldeen Joy Talavera