Business World Online
Posted on July 10, 2011 10:16:12 PM
SEM-CALACA Power Corp. has decided to stagger within five years its earlier announced plans to double the capacity of its 600-megawatt (MW), coal-fired power plant in Batangas starting with this month’s rehabilitation of an existing unit.
SEM-CALACA Power Corp. plans to double the capacity of its 600-megawatt, coal-fired power plant in Batangas within five years, a ranking official said. The first phase will involve repairing the facility back to its rated capacity. --www.dmcinet.com
“Our long-term goal is 1,200 MW [in capacity]. The area of Calaca is capable to accommodate up to an additional 1,200 MW and the way we see it is to do it in phases,” said Nestor D. Dadivas, president of SEM-Calaca parent firm DMCI Power Corp.
“We want about 600 MW over five years,” Mr. Dadivas said.
He added the company is still deciding whether the additional capacity will be registered as a SEM-Calaca asset or under a new subsidiary.
The Calaca plant currently consists of two 300-MW units and uses a combination of coal from DMCI Holdings, Inc. subsidiary Semirara Mining Corp. and sourced abroad.
The rehabilitation of the first unit of the Calaca coal power plant, now running at a derated capacity of 220 MW, is expected to last for eight to nine months from July 1. Its capacity should hit 270 MW to 300 MW after its rehabilitation, according to earlier reports.
SEM-Calaca budgeted $120 million for the rehabilitation of the power plant but estimates only $88 million will be spent due to low costs.
The expansion plans come as the firm is looking to service a ferronickel plant in the nearby Batangas economic zone.
Mr. Dadivas said the company will be deciding on an engineering, procurement and construction contract within the week.
“I think it will be a hundred percent China-built plant. The Consunji brothers went to China and the Chinese companies have made arrangements with the Western technology and we’re comfortable with it,” said Mr. Dadivas.
He added the company will also upgrade facilities like its jetties, conveyors and coal yards to cope with the increase in capacity.
Semirara Mining Corp. bought the Calaca power plant from the government in 2009 for $361.7 million.
DMCI Holdings posted a 61% increase in profits to P2.2 billion in the first quarter.
For the first quarter, Semirara Mining saw a 184% growth in its income to P1.69 billion.
Shares in DMCI Holdings closed flat at P43.20 in last week’s trading.
Shares in Semirara Mining closed at P214.80, up 0.47% from its previous close of P213.80 a piece. -- Emilia Narni J. David
“We want about 600 MW over five years,” Mr. Dadivas said.
He added the company is still deciding whether the additional capacity will be registered as a SEM-Calaca asset or under a new subsidiary.
The Calaca plant currently consists of two 300-MW units and uses a combination of coal from DMCI Holdings, Inc. subsidiary Semirara Mining Corp. and sourced abroad.
The rehabilitation of the first unit of the Calaca coal power plant, now running at a derated capacity of 220 MW, is expected to last for eight to nine months from July 1. Its capacity should hit 270 MW to 300 MW after its rehabilitation, according to earlier reports.
SEM-Calaca budgeted $120 million for the rehabilitation of the power plant but estimates only $88 million will be spent due to low costs.
The expansion plans come as the firm is looking to service a ferronickel plant in the nearby Batangas economic zone.
Mr. Dadivas said the company will be deciding on an engineering, procurement and construction contract within the week.
“I think it will be a hundred percent China-built plant. The Consunji brothers went to China and the Chinese companies have made arrangements with the Western technology and we’re comfortable with it,” said Mr. Dadivas.
He added the company will also upgrade facilities like its jetties, conveyors and coal yards to cope with the increase in capacity.
Semirara Mining Corp. bought the Calaca power plant from the government in 2009 for $361.7 million.
DMCI Holdings posted a 61% increase in profits to P2.2 billion in the first quarter.
For the first quarter, Semirara Mining saw a 184% growth in its income to P1.69 billion.
Shares in DMCI Holdings closed flat at P43.20 in last week’s trading.
Shares in Semirara Mining closed at P214.80, up 0.47% from its previous close of P213.80 a piece. -- Emilia Narni J. David
No comments:
Post a Comment