Hydro power plant builder plans to borrow $550M
The entity building the Agus 3 hydroelectric power plant in Mindanao is reportedly planning to borrow $550 million from a group of financial institutions.
Sources said BDO Capital is one of the arrangers for the loan.
The project involves the development of a 225-megawatt plant located in Lanao del Norte, estimated to cost some P1.682 billion. It entails the dredging and widening of the Agus River.
It is aimed at meeting the growing demand for electricity in the Mindanao grid.
According to studies, Mindanao shall need an additional capacity (demand plus reserves) of 850 MW from 2009 to 2014 to ensure sufficient supply of power: 100 MW by 2009, 100 MW in 2010, 150 MW each year from 2011 to 2013, and 200 MW in 2014.
Aside from this, a consortium comprised by an Australian firm and French firm Egis is hoping to secure P9 billion to P10 billion in loans to fund the construction of the North Luzon East Expressway.
The NLEE is a proposed parallel expressway to the east of the Pan Philippine Highway from Plaridel, Bulacan to San Jose, Nueva Ecija with connections to existing roads. It will be implemented through a build-operate-transfer scheme and is expected to be completed in December 2010.
Metro Pacific Infrastructure Inc. (formerly First Philippine Infrastructure Inc.) is reportedly planning to borrow P2 billion.
MPII own a 67.1 percent effective interest in Manila North Tollways Corp., the concession holder of the NLEX, and a 46 percent interest in Tollways Management Corp.
- Latest
- Trending