November 12, 2018 | 12:08 am
STATE-LED Philippine
National Oil Co. (PNOC) has received interest from local and foreign companies
to locate in two of its properties in Batangas, with four entities already in
the application process of reserving lots in the industrial parks, company
officials said.
“We are coming up with
one [industrial park] in Bauan, one in Limay, kaya excited ako doon (that’s why I’m excited
there),” PNOC President and Chief Executive Officer Reuben S. Lista told
reporters last week.
PNOC is leasing out 90
hectares in Limay, and another 24 hectares in Bauan, both in Batangas. It is
requiring a P200,000 application fee for locators that intend to build their
projects in the area.
Mr. Lista said the
first entity the pays the application fee is given priority on the property.
The two properties are among the PNOC landholdings that its top official
expects to provide a regular stream of revenues in the near term, he added.
Efren A. Legaspi, PNOC
department head of estate management, placed the rental value at the Limay
property at P220 per square meter. At 10,000 square meters to a hectare, the
90-hectare property could bring in rent of around P198 million.
He said four entities
are keen on locating their businesses in Limay. He declined to disclose their
identity because of a non-disclosure agreement, but said they are into
liquefied natural gas (LNG) power plant, micro-refinery, petrochemicals and
solar energy development.
Of the four, three are
foreign and one is a local company with foreign partners, he added.
“What they sent is
letters of interest. We treat that as part of application process for us to
release certain information for them to conduct their study. They have to pay
the application fee if they want to reserve,” he said.
For the Bauan property,
PNOC has signed a memorandum of agreement with a Thai company to explore
possible partnerships, Mr. Legaspi said.
“They are doing their
study now. Aside from them meron pang
iba (there are others),” he said, without identifying the interested
parties. He said the others are either interested in using the property as a
grains terminal or a container yard.
He said the possible
partnership is for a depot for petroleum products. At the very least, PNOC
would be the lessor, or it could beyond that arrangement and use the property
as equity in a joint venture, he said.
Asked when PNOC expects
the Bauan property to result in a partnership, he said: “By next year, late
next year.” — Victor V. Saulon
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