Aboitiz sets expansion of Subic power facilities
June 25, 2004 | 12:00am
The Aboitiz Groups Subic Enerzone Corp. will invest P300 million to upgrade and expand its power distribution services at the Subic Bay Freeport, a top company executive said.
Aboitiz Equity Ventures (AEV) chief operating officer Erramon Aboitiz said their majority-owned Subic Enerzone recently purchased new substations in anticipation of the expected growth in the companys electricity sales in the coming years.
Since winning the bid for the power distribution rights from the Subic Bay Metropolitan Authority (SBMA) in November last year, Subic Enerzones electricity sales inched up slightly by seven percent.
"Subic Enerzone is generating profits and we expect sales to grow as businesses in Subic also grow," Aboitiz said.
Aboitiz said he also expects more companies to set up shop in Subic as the freeport zone continues to offer lower electricity rates.
Subic Enerzone slashed its power rates to P3.90 per kilowatthour (kwh) with a lock-in period of five years when it started operating in Subic. Previously, Subics power rates averaged at P4.49 per kwh.
Its electricity charge is significantly lower than the average P4.94/kwh at the Clark Special Economic Zone, P6.02/kwh in Metro Manila, P5.39/kwh in Zambales, P4.78/kwh in Pampanga and P5.20/kwh in Bataan.
Aboitiz Equity Ventures (AEV) chief operating officer Erramon Aboitiz said their majority-owned Subic Enerzone recently purchased new substations in anticipation of the expected growth in the companys electricity sales in the coming years.
Since winning the bid for the power distribution rights from the Subic Bay Metropolitan Authority (SBMA) in November last year, Subic Enerzones electricity sales inched up slightly by seven percent.
"Subic Enerzone is generating profits and we expect sales to grow as businesses in Subic also grow," Aboitiz said.
Aboitiz said he also expects more companies to set up shop in Subic as the freeport zone continues to offer lower electricity rates.
Subic Enerzone slashed its power rates to P3.90 per kilowatthour (kwh) with a lock-in period of five years when it started operating in Subic. Previously, Subics power rates averaged at P4.49 per kwh.
Its electricity charge is significantly lower than the average P4.94/kwh at the Clark Special Economic Zone, P6.02/kwh in Metro Manila, P5.39/kwh in Zambales, P4.78/kwh in Pampanga and P5.20/kwh in Bataan.
BrandSpace Articles
<
>
- Latest
- Trending
Trending
Latest
Trending
Latest
Recommended