By Alena Mae S. Flores Posted on Feb. 07, 2013 at 12:01am
Philippine Associated Smelting and Refining Corp., the country’s sole copper smelter and refiner, is in talks with three power producers for a possible partnership to build a 200-megawatt coal plant that will serve the power requirement of the company in Leyte province.
An industry source said Pasar, which is controlled by Glencore International of the UK, was in talks with GN Power Ltd., Electricity Generating Public Co. Ltd. of Thailand and GDF-Suez for the proposed project.
GN Power is set to commission a 600-megawatt coal project in Mariveles, Bataan in March while EGCO is the majority owner of the 460-MW coal plant in Mauban, Quezon. GDF-Suez has yet to invest in the country’s power sector.
The source said Pasar, after choosing the power producer, would undertake a six-month feasibility study for the project. Pasar hopes to hold the ground- breaking for the power plant by the fourth quarter of 2014 and complete the project by 2016.
The source said Pasar had not concluded negotiations with the power generators.
The sole copper smelter and refiner plans to build the 200-MW power plant to lower electricity cost and sell excess power to other locators at the Leyte Industrial Development Estate.
President Benigno Aquino announced in December that Pasar committed an additional $500-million to $600-million investment, which included the cost of building the power plant and the refinery expansion.
Pasar chairman Angel Veloso Jr. said last year the expansion would increase the capacity of the refinery to 1.2 million tons of copper concentrate annually from 720,000 tons.
The refinery complex includes pollution abatement facilities, port and bulk handling facilities, an airstrip, a medical facility, as well as housing, recreational and educational facilities for company personnel and their dependents.
Pasar’s strategic location in Leyte allows access to copper concentrate supplies from around the world, including Indonesia, Papua New Guinea, Canada, Australia, Argentina, Brazil and Chile.
Another advantage is its proximity to the refined copper markets of China, Korea, Taiwan, Vietnam, Thailand, Malaysia, Indonesia and Japan. source
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