February 18, 2015
Sugaronline | http://goo.gl/W2mWq6
Sugar miller Roxas Holdings and the power generation business of billionaire George Ty is set to award the contract to design a cogeneration plant that would rise in central Philippines, according to the Philippines' Inter-Aksyon.
In a disclosure to the Philippine Stock Exchange, Roxas Holdings Inc (RHI) said it is wrapping up discussions with Global Business Power Corporation (GBPC) for the selection of the front-end engineering design (FEED) of a 40-megawatt cogeneration facility in Negros Occidental.
The FEED is part of a memorandum of agreement that RHI and GBPC signed last December for the construction of the power plant. The FEED follows the feasibility study carried out by Pöyry Energy Inc, an international consulting and energy company.
The plant, which is slated for completion in 2018, will rise in the listed sugar producer's Central Azucarera de la Carlota complex in La Carlota City.
"RHI and GBPC are confident that we can meet the 2018 completion target of the project," said RHI chairman Pedro E. Roxas.
RHI executives said the cogen facility will provide the company with a stable power supply and cut down its production costs.
RHI president Renato C. Valencia said the joint venture can roll out the cogen project "at the soonest time" given an international consultant at the helm of the FEED study.
"We hope to get the facility up and running in three years' time and that we can help address the growing concern on energy supply," Valencia said.
GBPC is a subsidiary of GT Capital Holdings Inc, the listed holding firm of the Ty family.