Friday, 30 March, 2012 Written by Jenniffer B. Austria
Alsons Consolidated Resources Inc., the holding company of the Alcantara family, said Friday net income in 2011 grew 20 percent to P456 million from P378 million a year ago on the strong performance of power and real estate businesses.
Alsons said in a disclosure to the stock exchange consolidated revenues grew 8 percent to P2.94 billion from P2.71 billion in 2010, with energy fees from power subsidiaries representing more than 70 percent of revenues. Property unit Lima Land Inc. accounted for the balance of 30 percent.
Alsons chairman and president Tomas Alcantara said the company’s earnings would be boosted this year by the projected acquisition of the former Iligan diesel power plant from Iligan City.
Iligan City has taken over the 102-megawatt diesel plant from National Power Corp. two years ago and awarded it the company’s subsidiary Mapalad Power Corp., after a public bidding in 2011.
Alcantara said once MPC takes over the idle plant, it would rehabilitate the plant and restore its capacity to 102 MW in six months, bringing additional power generating capacity to electricity-starved Mindanao island.
Alsons also plans to build 200-MW coal-fired power plants in Saranggani province and is currently in talks with Thailand’s Electricity Generating Co. and Japan’s Toyota Tsusho Corp. for a possible partnership.
The project, estimated to cost $280 million, is expected to commence commercial operations by June 2014. Alsons has already awarded the engineering, procurement and construction contract for the first of the two 100-MW plants to Korean firm Daelim Industrial Co.
Alsons also plans to build a 100-MW facility in Zamboanga.
(Published in the Manila Standard Today newspaper on /2012/March/31)
No comments:
Post a Comment