Investors eye ferro-nickle smelting plant in Zambales
A big consortium of investors is eyeing to put up a ferro-nickle smelting plant in the province of Zambales amounting to US$1 billion.
Zambales Governor Amor Deloso said the entry of AES Corporation to operate the 600 megawatt Masinloc coal-fired power plant is one major component and would pave the way for the realization and development of the Masinloc transshipment Port Project.
"The proponent is seriously considering the purchase of 700 hectares of raw land just across the proposed Masinloc International Transhipment Port," Governor Deloso said during the formal turn over ceremony of the Masinloc plant last Wednesday night.
"There is an excellent synergy in this project because within a 10 kilometer radius, the key components are located, the industrial park, the transshipment port and of course the Masinloc power plant who will provide energy by means of direct-tapping," he added.
Deloso also revealed that the boom in the mining industry in the province of Masinloc has given them about P120 million income in just ten months last year.
Masinloc Vice Mayor Roberto Eamilao said the entry of AES Corporation will give the province about P12 billion revenues in the next 25 years.
For the next 25 years, the local government of Zambales stands to earn P12 billion of revenues from Masinloc power plant," Eamilao said, adding that the Provincial Office in turn gives the new owner of Masinloc an incentive by cutting their taxes.
Aside from the potential investors in the industrial park, Deloso said two Korean firms are also planning to put up a major resort in the province while the other is eyeing the construction of the Ocean Fantasia resort complex in Silaguin Bay in Subic.
A modern hospital is now being developed and constructed in Subic.
For his part, AES Philippines president Matthew Bartley assured the government of Zambales as well as its people of strong business commitment.
He also committed to immediately address the growing demand for electricity in the country by improving the capacity of the Masinloc plant to another 600 megawatts in the near future.
Last week, AES finally settled the US$930 million cost of Masinloc which was bidded out on July 2007. (MSN/Sunnex)
Zambales Governor Amor Deloso said the entry of AES Corporation to operate the 600 megawatt Masinloc coal-fired power plant is one major component and would pave the way for the realization and development of the Masinloc transshipment Port Project.
"The proponent is seriously considering the purchase of 700 hectares of raw land just across the proposed Masinloc International Transhipment Port," Governor Deloso said during the formal turn over ceremony of the Masinloc plant last Wednesday night.
"There is an excellent synergy in this project because within a 10 kilometer radius, the key components are located, the industrial park, the transshipment port and of course the Masinloc power plant who will provide energy by means of direct-tapping," he added.
Deloso also revealed that the boom in the mining industry in the province of Masinloc has given them about P120 million income in just ten months last year.
Masinloc Vice Mayor Roberto Eamilao said the entry of AES Corporation will give the province about P12 billion revenues in the next 25 years.
For the next 25 years, the local government of Zambales stands to earn P12 billion of revenues from Masinloc power plant," Eamilao said, adding that the Provincial Office in turn gives the new owner of Masinloc an incentive by cutting their taxes.
Aside from the potential investors in the industrial park, Deloso said two Korean firms are also planning to put up a major resort in the province while the other is eyeing the construction of the Ocean Fantasia resort complex in Silaguin Bay in Subic.
A modern hospital is now being developed and constructed in Subic.
For his part, AES Philippines president Matthew Bartley assured the government of Zambales as well as its people of strong business commitment.
He also committed to immediately address the growing demand for electricity in the country by improving the capacity of the Masinloc plant to another 600 megawatts in the near future.
Last week, AES finally settled the US$930 million cost of Masinloc which was bidded out on July 2007. (MSN/Sunnex)
Labels: ferro-nickel, investment, masinloc, zambales
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