SRPI to spend $292-M for power plant inZambo PDF Print E-mail
Tuesday, 01 October 2013 11:30

San Ramon Power Inc., a unit of listed Alsons Consolidated Resources, Inc. (ACR). will spend about $292 million to build a 105-megawatt (MW) coal-fired power plant in Zamboanga City, a company official said on Saturday.

“On the project cost, $292 million is the estimate: but as with most projects, there will be room for adjustment,” Oscar Benedict E. Contreras III, Alsons Power Group corporate communications manager, said in a text message when asked on investment for the project.

Mr. Contreras said that San Ramon will start construction of the plant “either fourth quarter of 2013 or by 2014 at the latest.”

“As to the commencement of operations, we are still targeting 2016. VVe will determine exact 2016 date before we begin construction.” he added.

The project will be built in Sitio San Ramon, Barangav Talisavan in Zamboanga City.

A check with the Energy department showed that San Ramon is currently negotiating with power distributors in Zamboanga for sale of the plant’s output.

In December last year. San Ramon tapped Daelim Philippines, Inc. as the engineering, procurement and construction contractor for the project.

ACR, through its subsidiaries, primarily engages in power generation, property development, mining and product distribution business.

The company, through Mapalad Power Corp., owns and operates the 98-MW Iligan diesel plant in Lanao del Norte. The company also operates a 100-MW diesel power plant in Zamboanga City through Western Mindanao Power Corp. and a 55-MW diesel plant in Sarangani through Southern Philippines Power Corp.

ACR saw net profit climb 25,71% to P609.81 million in the first half of from P485.10 million in the same six months last year. Revenues grew 12.75% to PI.68 billion from P1.49 billion, while expenses rose by 5.43% to P927.54 million from P879.77 million.

Shares of the company gained two centavos or 1.57% to close at PI.29 apiece on Friday last week from PI.27 each on Thursday. - Clairc-Ann Marie C. Feliciano