MPIC proposes waste-to-energy plant in Payatas

MANILA, Philippines – Infrastructure conglomerate Metro Pacific Investments Corp. is proposing to put up a 30- to 40-megawatt waste-to-energy facility, utilizing the waste from the Payatas dumpsite in Quezon City.

During the Philippine Investment Conference yesterday, MPIC president and CEO Jose Ma. Lim said the project was an unsolicited proposal which the conglomerate submitted to the Quezon City government.

“Today we are submitting a proposal for a waste-to-energy project in Payatas. You don’t have to go through central government. This can be through the local government,” Lim said.

This would be the first time MPIC would venture into such a project but Lim said the technology they would employ has long been used and proven as successful in different power plants.

The plant is expected to handle about one third of the solid waste of Metro Manila.

MPIC will have a technology partner for the project, Lim said.

The company has been venturing into other businesses and not just tollways and infrastructure.

Last May, it announced its foray into the logistics business through the acquisition of the assets and key contracts of Basic Logistics Corp., A1Move Logistics Inc., Philflash Logistics Inc. and BasicLog Trading and Marketing Enterprises for about P2.17 billion.

In the first half of the year, MPIC posted consolidated net income of P6.6 billion, up 13 percent year on year. Reported income rose 25 percent to P6.98 billion.

Among the different segments, power (distribution and generation) accounted for P4.2 billion or 52 percent of the aggregate contribution to the company’s net operating income while Maynilad and the toll roads each contributed P1.8 billion or 22 percent of the total.

The hospital group contributed P249 million or three percent of the total, while the rail business contributed P116 million or one percent of the total.