The Board of Investments (BOI) recently granted tax perks to Phoenix Petroleum Philippines, Inc. for its Calaca depot project.

The project worth P615-million involves construction and operation of Phoenix Petroleum’s storage and distribution facility for biofuel and jet fuel in Calaca, Batangas.

The depot will have five tanks with a capacity of 46 million tons. Phoenix will source its products from foreign oil companies and independent suppliers.

The Phoenix Calaca depot will sell its petroleum products on a wholesale basis to its Luzon retail stations, companies and industrial users in Calabarzon and Metro Manila.

The project is expected to generate jobs to 20 people when it starts commercial operations by December 2009.