Published
December 5, 2016, 10:01 PM By Myrna M. Velasco
The power generation
arm of Alsons Consolidated Resources Inc. will earmark $180 million for capital
expenditures (capex) for its power projects up for construction from next year
until year 2020.
Alsons Power Group
Executive Vice President Tirso G. Santillan said the capital outlay will be for
the phase 2 of the Sarangani coal-fired power plant of 105-megawatt capacity
and the 105MW San Ramon Power, Inc. project in Zamboanga City.
He said capital
spending will be spread from years 2017 to 2020 or throughout the duration of
construction phases of the two plants.
The capex allotment
accounts for the 30-percent equity portion of the project funding. With the 70
percent loan component, the two new power projects will command total
investment of $600 million.
Following the
commercial operations of the company’s Sarangani’s first phase coal plant,
Santillan noted that their net income attributable to power business will inch
close to P600 million this year.
The notice-to-proceed
had been issued to the engineering, procurement and construction (EPC) contract
for the SEC-2 plant this year, warranting then the start of capex injection for
the project this year, according to Antonio Miguel B. Alcantara, corporate
planning officer of the company.
He said the planned
hydro and solar projects have not been part yet of the estimated capex
allocation of the Alcantara group.
Alsons Vice President
for Coal Operations Nicandro Fucoy explained that the spending will likely be
frontloaded – with bulk of the amount needed in the initial years of the
plants’ construction.
The Sarangani-2 plant
is scheduled on commercial commissioning by year 2018; while the San Ramon facility is targeted on stream by 2019.
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