Metro Pacific to pour in more projects
By Charlene Cayabyab
August 22, 2011
CITY OF SAN FERNANDO — Three weeks after being named the official concessionaire of the Subic-Clark-Tarlac Expressway, the Metro Pacific Investments Corporation (MPIC) disclosed that it is pouring in more projects in Central Luzon.
In a press statement, MPIC chief financial officer David Nicol said the company’s power distribution arm Manila Electric Corporation (Meralco) along with partners Aboitiz Power Corporation and Taiwan Cogeneration International Corporation are investing $1.28 billion to put up a 600-megawatt clean coal-fired power facility within the Subic Bay Freeport Zone.
The project, which is to be undertaken through a vehicle company called Redondo Peninsula Energy Inc., can meet 8 percent of the power needs of the entire Luzon grid.
Nicol added that the facility shall consist of two 300-megawatt power units with the first one expected to be commercially operational by the first quarter of 2015.
Meanwhile, MPIC’s toll road division Metro Pacific Tollways will spend P8 billion for the construction of the 8-kilometer North Luzon Expressway (NLEx)-Harbor link, which shall extend NLEx main to the Manila North Road in Valenzuela City and eventually to the C-3 road which leads to the port areas in Manila.
The tollways firm has also allotted P17 billion for the NLEx-South Luzon Expressway (SLEx) connector project which is to link the two expressways via a 13.5 kilometer elevated road over the tracks of the Philippine National Railways.
Nicol likewise said MPIC is keen on investing in the overall development of the Diosdado Macapagal International Airport in Pampanga, including the construction of a terminal for budget airlines and a high-speed train railway.
Lastly, the conglomerate is on the lookout for new acquisitions in Central Luzon that is to be part of its chain of hospitals which is currently composed of the Makati Medical Center, Cardinal Santos Medical Center, Our Lady of Lourdes Hospital, Riverside Medical Center and Davao Doctors’ Hospital.
Published in the Sun.Star Pampanga newspaper on August 22, 2011.
Source: http://www.sunstar.com.ph/pampanga/local-news/2011/08/21/metro-pacific-pour-more-projects-174494
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