$420m for Subic power plant
A TAIWANESE group said yesterday it is investing $420 million in a 300-megawatt coal-fired power plant in the Subic Bay Freeport Zone, a project seen to ease the expected power crunch in Luzon by 2011.
“We believe the national economy of the Philippines has entered a stage of steady and robust growth under your leadership and we are very comfortable with the prospect of our project,” Brian Hsu, president of Taiwan Cogeneration Corp., told President Gloria Macapagal Arroyo in Malacañang.
He and his group told the President that their total investment in the project would reach $840 million once its second stage was completed.
The power plant is a joint venture between TCC and Aboitiz Power Corp., and it will be operational by 2011, when Luzon is expected to be short of about 1,950 megawatts of power.
The 300-megawatt stage of the project begins next year, and that is expected to double to 600 megawatts once the project is completed.
Hsu was joined by TCC vice president Henry Wu, project manager Sean Chen, Aboitiz president Erramon Aboitiz, vice president Luis Miguel Aboitiz, and chairman Jon Aboitiz.
“The circulating fluidized bed technology of the plant is clean and environment-friendly,” Miguel Aboitiz said.
“Being one of the most efficient coal-fired power generators in Luzon, the facility is guaranteed to easily pass the national emission level standards,” he said.
The power plant is the second big-ticket investment that the government has secured days after the bombing in Congress that killed a lawmaker and three other people.
On Thursday, a Singaporean operator of top hotels and spas announced his group would develop a pair of resorts in Palawan’s Coron and Dinaran Islands at a cost of $70 million and for completion in 2010.
The Banyan Tree Group said the islands would remain pristine and secluded and retain their ambience, which would attract demanding travelers and make them premier Banyan destinations in Asia. Joyce Pangco Pañares - Manila Standard Today
“We believe the national economy of the Philippines has entered a stage of steady and robust growth under your leadership and we are very comfortable with the prospect of our project,” Brian Hsu, president of Taiwan Cogeneration Corp., told President Gloria Macapagal Arroyo in Malacañang.
He and his group told the President that their total investment in the project would reach $840 million once its second stage was completed.
The power plant is a joint venture between TCC and Aboitiz Power Corp., and it will be operational by 2011, when Luzon is expected to be short of about 1,950 megawatts of power.
The 300-megawatt stage of the project begins next year, and that is expected to double to 600 megawatts once the project is completed.
Hsu was joined by TCC vice president Henry Wu, project manager Sean Chen, Aboitiz president Erramon Aboitiz, vice president Luis Miguel Aboitiz, and chairman Jon Aboitiz.
“The circulating fluidized bed technology of the plant is clean and environment-friendly,” Miguel Aboitiz said.
“Being one of the most efficient coal-fired power generators in Luzon, the facility is guaranteed to easily pass the national emission level standards,” he said.
The power plant is the second big-ticket investment that the government has secured days after the bombing in Congress that killed a lawmaker and three other people.
On Thursday, a Singaporean operator of top hotels and spas announced his group would develop a pair of resorts in Palawan’s Coron and Dinaran Islands at a cost of $70 million and for completion in 2010.
The Banyan Tree Group said the islands would remain pristine and secluded and retain their ambience, which would attract demanding travelers and make them premier Banyan destinations in Asia. Joyce Pangco Pañares - Manila Standard Today
Labels: cogen, power plant, sbma, subic
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