DIVERSIFYING San Miguel Corp. plans to put up a 150-megawatt power plant in Ilocos Norte as part of its plan to create a nationwide network of power plants fueled by liquefied natural gas (LNG).
In an interview, San Miguel president Ramon Ang said the installation of additional power generating capacity in Ilocos Norte would help lower electricity prices and likewise help spur the development of heavy industriesin the province.
Citing San Miguel’s studies, Ang said an LNG-fired power plant with an initial capacity of 150 megawatts would be feasible in Ilocos.
He said the conglomerate, however, had not yet identified the specific location for this new or greenfield project, which will benefit from the LNG import terminal to be put up in Bataan.
Being at the far end of the power grid, Ilocos Norte is vulnerable to power outages.
NorthWind Power Corp. operates a wind farm in the town of Bangui that can generate up to 33 MW, but it accounts for about a third of the power requirements of Ilocos Norte.
San Miguel, through its subsidiary San Miguel Energy Corp, earlier told the Philippine Stock Exchange it was considering to invest up to $8 billion to construct LNG facilities with a total capacity of 5,000 MW across the country, about half of which was to be put up between 2013 to 2015.
In Luzon alone, the plan is to put up additional capacity of 1,200 MW.
The conglomerate wants the power business to eventually make up a quarter of the group’s revenue.
In the first semester, its existing 2,000-MW power generation portfolio contributed P24.1 billion in revenue or about 11 percent of group-wide profit.
Ang said Ilocos Norte had a lot of potential to develop heavy industries.
On a personal capacity, Ang is taking over a limestone mining firm Ilocos Norte Mining Co. and putting up a cement factory in Ilocos Norte in partnership with Northern Cement Corp. of San Miguel chair Eduardo Cojuangco Jr.
He said the proposed cement plant would require an initial investment of at least $150 million to be able to produce one million tons of cement per year, initially catering to domestic construction requirements.
But he said the capacity could be eventually expanded to three million, potentially exporting some of its output to Taiwan.
Ang said he was in talks and hoping to close a deal with the landowners of the site for the plant.
He said construction of the proposed cement plant could start by December or January. He said the new cement plant may take two years to build.
In an interview, San Miguel president Ramon Ang said the installation of additional power generating capacity in Ilocos Norte would help lower electricity prices and likewise help spur the development of heavy industriesin the province.
Citing San Miguel’s studies, Ang said an LNG-fired power plant with an initial capacity of 150 megawatts would be feasible in Ilocos.
He said the conglomerate, however, had not yet identified the specific location for this new or greenfield project, which will benefit from the LNG import terminal to be put up in Bataan.
Being at the far end of the power grid, Ilocos Norte is vulnerable to power outages.
NorthWind Power Corp. operates a wind farm in the town of Bangui that can generate up to 33 MW, but it accounts for about a third of the power requirements of Ilocos Norte.
San Miguel, through its subsidiary San Miguel Energy Corp, earlier told the Philippine Stock Exchange it was considering to invest up to $8 billion to construct LNG facilities with a total capacity of 5,000 MW across the country, about half of which was to be put up between 2013 to 2015.
In Luzon alone, the plan is to put up additional capacity of 1,200 MW.
The conglomerate wants the power business to eventually make up a quarter of the group’s revenue.
In the first semester, its existing 2,000-MW power generation portfolio contributed P24.1 billion in revenue or about 11 percent of group-wide profit.
Ang said Ilocos Norte had a lot of potential to develop heavy industries.
On a personal capacity, Ang is taking over a limestone mining firm Ilocos Norte Mining Co. and putting up a cement factory in Ilocos Norte in partnership with Northern Cement Corp. of San Miguel chair Eduardo Cojuangco Jr.
He said the proposed cement plant would require an initial investment of at least $150 million to be able to produce one million tons of cement per year, initially catering to domestic construction requirements.
But he said the capacity could be eventually expanded to three million, potentially exporting some of its output to Taiwan.
Ang said he was in talks and hoping to close a deal with the landowners of the site for the plant.
He said construction of the proposed cement plant could start by December or January. He said the new cement plant may take two years to build.
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