I Squared is to acquire Philippines Coastal Storage & Pipeline, and its affiliate entities.
Based in the Subic Bay Freeport Zone, Philippines, and serving the Luzon Economic Corridor, Philippines Coastal is the largest independent import terminal in the Philippines. With a capacity of 6.3 million barrels (42,770 m3) Philippines Coastal houses over 20% of the country’s import storage capacity.
Harsh Agrawal, senior partner, I Squared says: ‘Philippines Coastal is an essential infrastructure asset playing a critical role in supporting the growing energy needs of the Philippines. With urbanisation and the growing consumption of the rising middle class in the Philippines, fuel demand continues to increase steadily.’
