Business World Online
Posted on January 05, 2014 10:12:03 PM
CONGLOMERATE DMCI Holdings, Inc. has planned at least P20 billion in capital expenditure (capex) this year, mainly to expand its coal-fired power facility in Calaca, Batangas province, a company official said last weekend.
CAPACITY EXPANSION of the coal-fired power plant in Calaca, Batangas will make up bulk of capital expenditure DMCI Holdings, Inc. has planned for this year
“Definitely we will expand… power -- the capex is really for Semirara which is the power plant,” Victor S. Limlingan, the conglomerate’s managing director, said in a telephone interview.
He said plant expansion component will be “probably around P15 billion.”
Semirara Mining Corp. owns and runs the 600-megawatt (MW) facility through wholly owned subsidiary SEM-Calaca Power Corp.
Semirara’s board in November last year approved investment for two new units, each with 350-MW capacity.
“We will start the 350 [MW] first in the third quarter and another 350 [MW] probably after six months,” Mr. Limlingan said.
The 700-MW project represents the second phase of the facility’s expansion.
The first phase involves ongoing construction of two 150-MW units, which Mr. Limlingan said the company is “finishing.” Commercial operation of the new units built in the first phase is scheduled in 2015
Mr. Limlingan said DMCI Holdings has also allotted around P5 billion for DMCI Homes’ land banking.
Last year, the conglomerate had a P15-billion capex, bulk of it also for the plant’s expansion, Mr. Limlingan added.
DMCI Holdings recorded a nine-month net income of P18.74 billion as of September last year, up by 87.4% from P10.00 billion in the year before on the back of a one-time gain from the sale of a stake in Maynilad Water Services, Inc. DMCI Holdings in February sold a 16% stake in Maynilad to MCNK JV Corp., a unit of Japan’s Marubeni Corp. The deal, worth around P8.35 billion, cut DMCI Holdings’ stake in the water distributor to 25.24% from 40.98%.
Excluding the effects of the one-time gain, the firm’s core net income attributable to equity holders of the parent firm grew by only 1.77% to P8.04 billion from P7.90 billion. Nine-month revenues went up 5.24% to P41.15 billion from P39.10 billion, while cost of sales slightly rose 0.50% to P26.25 billion from P26.12 billion.
On Friday last week, shares of DMCI Holdings dropped 95 centavos or 1.64% to close P57.05 apiece from P58.00 on Thursday, while those of Semirara surged P9.00 or 3.15% to end P295.00 each from P286.00. -- Cliff Harvey C. Venzon source
He said plant expansion component will be “probably around P15 billion.”
Semirara Mining Corp. owns and runs the 600-megawatt (MW) facility through wholly owned subsidiary SEM-Calaca Power Corp.
Semirara’s board in November last year approved investment for two new units, each with 350-MW capacity.
“We will start the 350 [MW] first in the third quarter and another 350 [MW] probably after six months,” Mr. Limlingan said.
The 700-MW project represents the second phase of the facility’s expansion.
The first phase involves ongoing construction of two 150-MW units, which Mr. Limlingan said the company is “finishing.” Commercial operation of the new units built in the first phase is scheduled in 2015
Mr. Limlingan said DMCI Holdings has also allotted around P5 billion for DMCI Homes’ land banking.
Last year, the conglomerate had a P15-billion capex, bulk of it also for the plant’s expansion, Mr. Limlingan added.
DMCI Holdings recorded a nine-month net income of P18.74 billion as of September last year, up by 87.4% from P10.00 billion in the year before on the back of a one-time gain from the sale of a stake in Maynilad Water Services, Inc. DMCI Holdings in February sold a 16% stake in Maynilad to MCNK JV Corp., a unit of Japan’s Marubeni Corp. The deal, worth around P8.35 billion, cut DMCI Holdings’ stake in the water distributor to 25.24% from 40.98%.
Excluding the effects of the one-time gain, the firm’s core net income attributable to equity holders of the parent firm grew by only 1.77% to P8.04 billion from P7.90 billion. Nine-month revenues went up 5.24% to P41.15 billion from P39.10 billion, while cost of sales slightly rose 0.50% to P26.25 billion from P26.12 billion.
On Friday last week, shares of DMCI Holdings dropped 95 centavos or 1.64% to close P57.05 apiece from P58.00 on Thursday, while those of Semirara surged P9.00 or 3.15% to end P295.00 each from P286.00. -- Cliff Harvey C. Venzon source
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