Posted on October 21, 2013 10:44:50 PM
[ BusinessWorld Online ]
DMCI Power Corp., a unit of
Consunji-led DMCI Holdings, Inc., has bagged the contract to build a
15-megawatt (MW) diesel-fired plant to supply residents of Oriental Mindoro,
the parent firm said in a disclosure yesterday.
DMCI Holdings said: “Oriental Mindoro [Electric] Cooperative, Inc.
(ORMECO) has recently awarded the electricity supply agreement (ESA) involving
the construction, operation and maintenance of the 15-MW bunker-fired diesel
power plant in Calapan City… to the corporation’s subsidiary DMCI Power…”
It added the ESA has a term of 20
years.
Last month, ORMECO President Audel A.
Arago said DMCI Power had been declared as the winning bidder in an auction
conducted by ORMECO last June 28 for the construction, operation and
maintenance of a power plant.
The formal award, however, had been
subjected to confirmation by the Energy department that the power distributor
conducted a competitive selection process.
Last March, ORMECO started seeking
offers for the development of the power project where eight bidders initially
showed interest.
However, only three firms -- DMCI
Power, Sta. Clara Power Corp. and Mindoro Grid Corp. -- participated in the
auction.
The evaluation of the technical
working group, special bids and awards committee, and board of directors showed
that DMCI Power submitted the lowest bid and complied with the terms of the
bidding, according to Mr. Arago.
Besides DMCI Power, another company
will develop a power plant to provide more electricity in the province.
Last July Ormin Power, Inc. (OPI)
conducted a groundbreaking ceremony for its 10-MW hydro power plant that is
expected to be operational by 2016.
The P1.5 billion power plant -- which
will be built in the municipality of San Teodoro -- will use water from
Inabasan River.
OPI, a firm based in Calapan City,
currently operates a 6.4-MW diesel power plant in the province.
DMCI Power is a wholly owned
subsidiary of DMCI Holdings, which in turn is the holding company of Consunji
family’s businesses that include construction and mining.
DMCI Holdings’ net income more than
doubled to P15.06 billion in the first half from P7.39 billion in the same six
months a year ago. In the same comparative periods, revenues dropped by 3.24%
to P26.58 billion from P27.47 billion, while cost of sales slid by 4.04% to
P17.09 billion from P17.81 billion.
Shares of the company gained 15
centavos or 0.28% to close P54.15 apiece yesterday from P54 each on Friday last
week. -- Claire-Ann Marie C. Feliciano
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