Top Line plans Cebu energy complex to boost storage capacity

TOP LINE Business Development Corp. said it plans to build an energy complex in Cebu that could quadruple its fuel storage capacity, as the listed company ramps up expansion following its market debut and planned follow-on offering.

In a statement on Tuesday, the Cebu-based fuel retailer said the proposed Top Line Energy Complex will serve as its main logistics and distribution hub and support efforts to strengthen fuel supply in the Visayas.

As part of the project, Top Line entered into a sublease agreement with agri-industrial firm Lu Do & LuYm Group for an approximately 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 facility is expected to increase Top Line’s storage capacity fourfold from its current 10 million liters, improving logistics efficiency and supply chain reliability, the company said.

“We are 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 are strengthening our ability and capacity to expand to serve the growing energy needs of our customers while supporting broader efforts to improve regional energy security,” he added.

The company said it is also studying additional development phases that could further expand the facility’s storage capacity depending on market demand.

Top Line previously said it is preparing for broader depot development projects to expand storage operations, with estimated costs reaching as much as P1 billion.

The company has earmarked up to 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 company entered the fuel sector in 2017 and has since expanded into commercial fuel trading, depot operations, and retail fuel distribution in the Visayas.

Through its Light Fuels brand, Top Line opened its first service station in Mandaue City, Cebu, in 2023. — Sheldeen Joy Talavera