Written by Madelaine B. Miraflor Reporter Published on 04 March 2013
Alsons Energy Development Corp. is set to spend $892 million for a 400-mega watt power plant to supply the power needs of the $5.9-billion Tampakan mine, which is owned by Sagittarius Mines Inc. (SMI).
Alsons Energy, a subsidiary of the Alcantara Group’s Alsons Consolidated Resources Inc. (ACR) and SMI have entered into an agreement for the provision of electrical power to SMI’s proposed mining operation located in Southern Mindanao.
Oscar Benedict Contreras 3rd, Alsons Power Group corporate communications manager, said that the estimated cost of the power plant is $892 million.
“Construction is expected to begin by 2016 at the latest. The plant will begin to ramp up power as early as 2017 and full operations are expected to be underway by the middle of 2019,” he added.
SMI selected Alsons Energy as its preferred power generation supplier following studies into the technical, environmental and commercial viability of a range of power generation options.
Under the agreement, Alsons Energy will develop a new 400-megawatt (MW) open cycle gas turbine and coal-fired power station, located in the Kamanga Agro-Industrial Ecozone at Barangay Kamanga in Maasim, Saranggani. It will supply the electricity needs of SMI’s proposed mine.
“The new power facility will be owned and operated by A/S Power Development Inc. [APDI]—an ACR power subsidiary specifically organized to establish and manage the 400-MW plant,” Alsons Energy said.
In 2012, Alsons Energy consulted stakeholders regarding its plans for the power facility.
Other preliminary project development undertakings for the power facility, such as project financing, are expected to commence within the year, the company said. source
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