ACRI awaits decision of Toyota Tsusho for higher investment in Mindanao power projects

In a report published by Business Mirror, Alsons Consolidated Resources Inc. (ACRI), the publicly listed company of the Alcantara Group, awaits the decision of Japanese firm Toyota Tsusho Corporation to raise its investment in the group’s power projects in Mindanao.

Image grabbed from alsonspower.com

ACRI has three major power projects in Mindanao including the 105-megawatt (MW) section of the 210 MW baseload coal-fired power plant in Maasim, Sarangani; the 15 MW Siguil River run-of-river hydroelectric plant in Maasim, Sarangani; and the 105 MW San Ramon Power, Inc. baseload coal-fired power plant in Talisayan, Zamboanga City.

According to Antonio Miguel Alcantara, ACRI corporate planning officer, Toyota Tsusho could take in up to 40 percent in the Siguil project which is targeted to run by 2018.

Meanwhile, The Philippine Star reported that Toyota Tsusho earlier acquired 25 percent stake in the 210-MW coal plant in Maasim through a buy-in last 2012.

Alcantara added that Toyota Tsusho is scheduled to make its decision on its equity call in January 2017. He noted that “when they evaluate it, you need to already finish all your project documents in place, you need your power supply, EPC (engineering, procurement and construction) contract in place. That’s the only time they can make a formal decision. Before that, it’s just formal negotiations in order to get them ready.”

 

Source: Business Mirror, alsonspower.com, The Philippine Star