July 30, 2014     Japanese 
  JCN 
	  Network - Home
JCN Newswire
  Home  |  Companies  | Annual Reports  |  CSR  | News Alerts     
 
Share:
Mitsubishi to Build Coal Fired Power Plant in the Philippines
 

Tokyo, Feb 3, 2014 (JCN) - Mitsubishi Corporation (MC), together with Toshiba Plant Systems & Services Corporation (TPSC), has concluded a contract with MINERGY Coal Corporation (MCC) to build a thermal power plant in the Philippines. MCC is a wholly owned subsidiary of Mindanao Energy Systems, Inc., a power generation company established by Cagayan Electric Power & Light Company, Inc.

The plant, located in Balingasag in Northern Mindanao, will be composed of two units of 55MW each. The project is being undertaken on a Full Turn-Key (FTK) basis with completion expected by the end of March 2017. Under the Full Turn-Key contract, MC, together with TPSC, will execute the project in its entirety, including engineering, civil work, procurement, erection and testing.

In addition to these two units, another unit may be ordered within this fiscal year as an option. The total contract price including the option would be around USD 300 Million.

Electricity demand in the Philippines, especially in Mindanao, is expected to see a remarkable increase due to rising population and stable economic growth. New infrastructure, including the development of new power plants, is urgently needed in order to fulfill the growing demand for electricity. This project is expected to serve as a model for infrastructural development in Mindanao.

Under its "New Strategic Direction", the MC's recently released corporate strategy, the company is seeking to accelerate global business development by leveraging the shift towards Asian markets, which are gaining greater international presence both as resource and as consumer markets. MC therefore intends to continue pursuing power generation related business opportunities in Asia in the future.

By Chris Lui Staff Writer

Copyright © 2014 JCN. All rights reserved. A division of Japan Corporate News Network KK.


 Company Profile |   Print  |   Alerts
ACN Newswire

 Recent  Mitsubishi Corporation News  
  Mitsubishi Corporation Enters Sea Port Terminal Business in Colombia  (July 28, 2014)
  Mitsubishi Corporation Enters into Strategic Partnership Agreement with I Squared Capital  (July 23, 2014)
  Ofunato City Unveils New Landmark  (July 23, 2014)
  Mitsubishi Corporation Launches Diesel Business in Australia  (July 22, 2014)
  Rikuzentakada Gets New Restaurant - "Bishoku Pasta Tsubaki no Mori"  (July 17, 2014)
  Mitsubishi Corporation and Mitsubishi Heavy Industries Undertake Strategic Investment in Metito, the Leading Water Company in Emerging Markets  (July 8, 2014)
  Mitsubishi Corporation, GDF SUEZ and NYK Form Partnership in LNG Bunkering Business  (July 2, 2014)
  Mitsubishi Corporation Strengthens Grain Procurement for Asian Market in Australia  (June 24, 2014)
  Mitsubishi Corporation Obtains Contract to Supply Rolling Stock in Istanbul, Turkey  (June 17, 2014)
  Fukushima Experimental Offshore Floating Wind Farm Project Second Phase Update  (June 11, 2014)



 Recent  Energy General News   
JAPAN-GTL Consortium Awarded 2014 ENAA Engineering Commendation Award by Engineering Advancement Association of Japan (July 23, 2014)
Marubeni, Mitsui Miike to Build Coal Handling Facility with Russia's JSC Vostochny Port (July 18, 2014)
Marubeni to Create Minera Centinela, New Mining Company in Chile (July 5, 2014)
GS Yuasa to Install Mega Solar System 1 MW-output System at Gunma Plant (June 27, 2014)
TOYO Awarded Large-scale Photovoltaic Power Plant Project in Japan (June 9, 2014)
Marubeni Starts Commercial Operation Mega-Solar Power Plant in Oita City (Apr 23, 2014)
World's Largest Semi-submersible Platform Takes Steps Towards Completion (Apr 4, 2014)
Yokogawa Wins Orders for Chinese Coal/Oil Co-processing Pilot Plant and Coal Tar Hydrogenation Plant Projects (Mar 26, 2014)
INPEX to Construct a Second Photovoltaic Power Generation System (Mar 15, 2014)
Idemitsu Kosan Launches Operations at Himeji Mega-solar Power Plant (Mar 12, 2014)

More Energy General news...
 
CSR Report Download
Annual Reports

  More >>    
Most Popular


About JCN | Privacy Policy | Terms of Use | JCN Network (日本語)