By Alena Mae S. Flores Posted on Jan. 29, 2013 at 12:01am
Listed Trans Asia Oil and Energy Development Corp., a unit of the Phinma Group, and joint venture partner AC Energy Holdings Inc. of Ayala Corp. are on track to complete a 135-MW coal thermal power plant in Calaca, Batangas by 2014, a company official said.
“The Calaca [coal project] is an ongoing construction. We are still on schedule. For commissioning [by the] third quarter of 2014,we are on track. That’s funded already. We are optimistic of that project because open access will be in place in June so there is a market,” Trans-Asia president Francisco Viray said.
Trans-Asia earlier awarded the engineering, procurement and construction contract for the coal plant to DM Consunji Inc. The coal plant, undertaken by South Luzon Thermal Energy Corp. (the joint venture vehicle), is one of indicative projects that is expected to augment the power supply in Luzon. source
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