Business Mirror
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DMCI Holdings Inc. is negotiating with Metro Pacific Investments Corporation to launch a joint bid for the Daang Hari- South Luzon Expressway Link Project.
MPIC, through Metro Pacific Tollways Corporation, and DMCI Holdings bought bid documents for the construction of the P1.96-billion four-kilometer, four-lane paved toll road linking Bacoor, Cavite to SLEX.
The Daang Hari-SLEX Project would be the first to be bid out under the Aquino administration’s Public-Private Partnership Program. A joint bid won’t be the first for the two companies, as MPIC and DMCI Holdings own Maynilad Water Service Inc., which operates the West zone concession of state-run Metropolitan Waterworks and Sewerage System.
“We need an operator. We can’t bid as a contractor so we’re asking [MPIC] to be part of the consortium,” Isidro Consunji, DMCI Holdings president and chief executive, told reporters.
Consunji said talks with MPIC are ongoing even though the latter had said it was “not so keen” on the project given its small size.
DMCI Holdings will also join forces with Fluor Corporation and Atlantic, Gulf & Pacific Company in the December bidding of the 600-megawatt coal plant of Manila Electric Company and Aboitiz Power Corporatino in Subic worth $1.28 billion.
For its mining venture, DMCI Mining Corporation is looking at operating a third nickel mine with impending expiration of its contract to explore, develop and mine a limited portion of Benguet Corporation’s 1,406-hectare tenement in Sta. Cruz, Zambales.
Consunji said the company is eyeing a mine owned by Australian firm Rusina Mining NL, and a deal is expected to be signed before the end of the year.
Nickel production of DMCI Mining is expected to hit 1.8 million metric tons this year and the acquisition of a third mine will allow the company to equal that output in 2012, the executive said.
In September 2009, DMCI Mining and Benguet inked a three-year mining agreement.
DMCI Mining has another contract with Zambales Diversified Mining Corporation, a subsidiary of European Nickel, to operate the old Acoje mine in Zambeles. First shipment from this mine was made in July.
“We want to concentrate in Zambales. The problem is the acceptance of the local community and we have already done that so there’s more opportunity in Zambales instead of going to a new place,” said Consunji.
In the first half, nickel operations posted a net income of P342 million, up 166 percent from the P129 million in 2010. Nickel ore sales surged 114 percent to P1.76 billion from P823 million previously on higher shipments and selling price.
“Second half is rainy season so you can’t expect the same productivity. We don’t expect the same prices to continue moving forward,” Consunji said.
DMCI Holdings earlier reported that its profit attributable to equity holders grew by 26 percent to P5.28 billion in the first half on the strength of its mining business.
Its shares lost P1.10 each to close at P41.20 on Friday
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