By Iris C. Gonzales (The Philippine
Star) | Updated July 30, 2015 - 12:00am
MANILA, Philippines - The Consunji-led
DMCI Holdings Inc. is hopeful of meeting its P12.66 billion net income target
for the year, according to its top official.
On the sidelines of the company’s
annual stockholders meeting yesterday, DMCI chairman and president Isidro A.
Consunji said first half core unaudited net profit was estimated at P6 billion
on the back of the strong performance of its power, real and water businesses.
However, DMCI has yet to report the
final figures, he said.
In his message to stockholders,
Consunji said while the company is facing challenges, with construction and
power businesses’ performance at below expectations last year, the rest of the
group’s companies delivered exceptional results.
Nevertheless, he said the group would
continue its efforts to further improve its financial position which has led to
economic growth, more jobs and better living conditions for millions of
Filipinos.
In the area of power, Semirara Mining
& Power Corp., the Philippines’ biggest coal miner, is building its power
capacity to 1,200 megawatts in the next three to four years, he said.
“It will be around 1,200 MW in 42
months. Semirara will add at least 650 MW of capacity in the next four to five
years,” he said.
Semirara is also building a 300 MW power plant in Batangas.
“The new 2x150 MW power units are
expected to operate and start contributing to group earnings by 2015. Last
week, we were able to ramp up generation of the first unit to 117 MW. The
second unit is now on a trial run,” he said.
Consunji said the company is also in
discussions for another 2x350 MW plant within the Calaca complex. It wants to supply all the coal needs of its
expanding power generation portfolio.
Semirara halted its exports of coal to
ensure supply for local power generation following the suspension of its mining
operations in Antique after a deadly landslide last July 17.
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