(The Philippine Star) | Updated September 7, 2016 - 12:00am
MANILA, Philippines –
Infrastructure conglomerate Metro Pacific Investments Corp. is proposing to put
up a 30- to 40-megawatt waste-to-energy facility, utilizing the waste from the
Payatas dumpsite in Quezon City.
During the Philippine
Investment Conference yesterday, MPIC president and CEO Jose Ma. Lim said the
project was an unsolicited proposal which the conglomerate submitted to the
Quezon City government.
“Today we are
submitting a proposal for a waste-to-energy project in Payatas. You don’t have
to go through central government. This can be through the local government,”
Lim said.
This would be the first
time MPIC would venture into such a project but Lim said the technology they
would employ has long been used and proven as successful in different power
plants.
The plant is expected
to handle about one third of the solid waste of Metro Manila.
MPIC will have a
technology partner for the project, Lim said.
The company has been
venturing into other businesses and not just tollways and infrastructure.
Last May, it announced
its foray into the logistics business through the acquisition of the assets and
key contracts of Basic Logistics Corp., A1Move Logistics Inc., Philflash
Logistics Inc. and BasicLog Trading and Marketing Enterprises for about P2.17
billion.
In the first half of
the year, MPIC posted consolidated net income of P6.6 billion, up 13 percent
year on year. Reported income rose 25 percent to P6.98 billion.
Among the different
segments, power (distribution and generation) accounted for P4.2 billion or 52
percent of the aggregate contribution to the company’s net operating income
while Maynilad and the toll roads each contributed P1.8 billion or 22 percent of
the total.
The hospital group
contributed P249 million or three percent of the total, while the rail business
contributed P116 million or one percent of the total.
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