MANILA, Philippines - Philippine Seven, franchise holder of 7-Eleven, plans to spend P1.5 billion for expansion this year.

That is 50% more than its capital expenditure last year.

Philippine Seven says the money will be used to set up more stores in Luzon and Visayas and refurbish current branches.

In 2012, 140 7-Eleven stores were opened, bringing its total network to 830 branches. - ANC