Alsons to invest P300 million in Sarangani ecozone

MANILA, Philippines - Alsons Consolidated Resources Inc. (ACR) said it willinvest P300 million in a proposed economic zone in Sarangani. 

ACR chairman and president Tomas I. Alcantara said the company will seek the approval of the Philippine Economic Zone Authority (PEZA) to make an industrial ecozone in Sarangani to host the Sarangan-based power projects of ACR.

For the property development project, the company will create a wholly owned subsidiary and will allocate P300 million to fund the company’s short to medium term development requirements.

The firm said the company is confident that the availability of power and a world-class industrial location will encourage varied industries to locate in Southern Mindanao.

Alsons Consolidated has several power-generation projects in the pipeline which will benefit Sarangani, and other provinces like Zamboanga, Negros Oriental and Negros Occidental. At the same time, Alsons Consolidated is developing in Sarangani a 200-megawatt coal-fired power station project (SM 200) through its subsidiary, Conal Holdings Corp.

The cost of the project is $450 million. The first unit (100 MW) of the planned coal facility in Maasim, Sarangani is expected to be completed by September 2013, while the second unit may be commissioned within the fourth quarter of 2014.

Conal Holdings is also developing renewable energy projects, particularly the 17-MW Siguil hydropower project, also in Maasim, near its coal facility.

ACR has reported P2 billion in revenues and a net consolidated income of P778 million for the first nine months of the year. The net income grew by 82 percent when compared to the same period a year ago. The firm said revenues from the energy companies accounted for 95 percent of total sales.

For the end of the year, revenue is expected to hit P2.67 billion. This represents an eight percent growth from last year’s revenue. Yearend net income is also expected to grow by 15 percent to P971 million.