Manila Times.net
Published : Wednesday, January 04, 2012 00:00 Written by : Euan Paulo C. Añonuevo
Aboitiz Power Corp. (AP) has signed a long-term power supply deal with Melters Steel Corp. (MSC).
In a statement, AP said that the company, through wholly owned Therma Luzon Inc. (TLI) and MSC inked a 20-year power supply agreement.
“We are confident that through this long term partnership, [MSC] will be in a better position to compete in the steel manufacturing industry,” Ricardo Lim, MSC general manager, said.
Under the deal, TLI will provide 40 megawatts of power to MSC’s smelting plant in San Simon, Pampanga at an undisclosed rate. MSC is a steel smelting company that produces steel billets from recycled metals.
TLI, on the other hand, administers the output of the 700-megawatt Pagbila coal-fired power plant, which is operated by TeaM Energy Corp.
The former acquired the contracted ouput of the generating facility through the government auction block.
“[AP] is pleased to partner with [MSC] to provide [the company] with the reliable energy that will power up and grow their business,” Luis Miguel Aboitiz, AP senior vice president for trading and marketing, said.
AP is the holding company for the Aboitiz Group’s investments in power generation, distribution, retail and power services.
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