Aboitiz unit inks deal with smelter

MANILA, Philippines - Therma Luzon Inc. (TLI), a wholly-owned subsidiary of Aboitiz Power Corp. (APC), has entered into a 20-year power supply agreement with Pampanga-based Melters Steel Corp. (MSC).

The contract, which took effect last Dec. 26, involves.

TLI’s provision of 40 megawatts (MW) of reliable, stable and affordable power to MSC’s smelting plant in San Simon, Pampanga.

MSC is a steel smelting company that produces steel billets from recycled metals.

APC senior vice president for trading and marketing Luis Miguel Aboitiz said their partnership with MSC will provide it with the reliable energy that will power up and grow its business.

MSC is looking forward to a long and mutually beneficial partnership with APC. We are confident that through this long term partnership, MSC will be in a better position to compete in the steel manufacturing industry,” MSC general manager Ricardo Lim said.

APC is the holding company for the Aboitiz Group’s investments in power generation, distribution, retail and power services.

 It is a major producer of Cleanergy, its brand for clean and renewable energy in the Philippines with several hydroelectric and geothermal assets in its generation portfolio, and also has non-renewable power plants located across the country.

The company owns distribution utilities that operate in high-growth areas in Luzon, Visayas and Mindanao.