checkmate

Ayala Corp., A. Brown to build Iloilo coal power plant

Ayala Corp., through its unit AC Energy Holdings Corp., and A.Brown Company Inc., through its unit Palm Thermal Consolidated Holdings Corp., together with Jin Navitas Resource, Inc. are all set to start construction of a coal power plant in Iloilo province.



The first clean coal power plant of triumvirate AC Energy, Palm Thermal, and Jin Navitas was formally launched on Tuesday in groundbreaking rites at the 30-hectare project site in Barangay Nipa, Concepcion, Iloilo.

Gov. Arthur Defensor Sr. of Iloilo, House Deputy Speaker Erin Tañada and Mayor Milliard Villanueva of Concepcion led the groundbreaking ceremony.

They were joined by Walter Brown, chairman of Palm Concepcion Power Corporation, directors Eric Francia and Jack Ng, and other key political and business personalities.

“The power plant will use the circulating fluidized bed combustion technology, which is one of the
most advanced and most fuel-efficient plant in the Visayas. It will use the latest Alstom Technology [Europe] for its steam turbine and generator,” PCPC President and Chief Executive Officer Roel Castro said.

He said that the power plant’s capacity is good for 135 megawatts each for the two units, and the target commercial dispatch for the first unit is set for the last quarter of 2015.

Castro also said that SNC-Lavalin, a leading Canadian-American company, was appointed as the project owner’s engineer and project manager.

Top Business News

November 2012 factory output up 9.6%

Published : Thursday January 17, 2013   |  Category : Top Business News   |  Hits:71
By : Mayvelin U. Caraballo Reporter

Philippine factory output in November 2012, as measured by Volume of Production index (VoPi), slightly moved up at a slower growth rate of 9.6 percent, according to the results of the Monthly Read more

Local stocks extend consolidation

Published : Thursday January 17, 2013   |  Category : Top Business News   |  Hits:74
By : Madelaine B. Miraflor Reporter

Investors continued to consolidate their assets and cash in on their gains on Wednesday, making the index fall 60 points away from the 6,100 mark. Read more

Five coal contracts for PECR4 signed

Published : Thursday January 17, 2013   |  Category : Top Business News   |  Hits:80
By : Madelaine B. Miraflor

The Department of Energy (DOE) has signed five of 11 coal contracts under the Philippine Energy Contracting Round 4 (PECR4), which will let investors acquire and develop coal power sites that the agency has offered. Read more

The great thing about good news

Published : Thursday January 17, 2013   |  Category : Top Business News   |  Hits:59

Good news, they are aplenty! Read more

Philex to cooperate in payment of P1-B fine

Published : Thursday January 17, 2013   |  Category : Top Business News   |  Hits:54
By : James Konstantin Galvez Reporter

The country’s biggest miner on Wednesday said that it will cooperate with the Mines and Geosciences Bureau (MGB) over penalty the government imposed from a tailings spill at the company’s Padcal mine in Benguet province. Read more

Hosting Powered and Design By: I-MAP WEBSOLUTIONS, INC