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Aboitiz Power eyes deal with major steel mill

Steel News - Published on Thu, 17 Jan 2019

Image Source: BusinessWorld
Manila Standard reported that Aboitiz Power Corp plans to supply electricity to the planned USD 4.4-billion integrated iron and steel project of HBIS Group Co Ltd of China, Huili Investment Fund Management Co Ltd and Steel Asia Manufacturing Corp in Misamis Oriental province. Aboitiz Power chief operating officer Manny Rubio said that “These things build cities…An integrated steel mill that have economies of scale would be consuming anywhere from 300 megawatts to 600 MW. It’s a game changer if that’s real.”

Aboitiz Power is one of the country’s biggest power producers. The company has a portfolio of investments in power generation, distribution and retail electricity services. It owns hydroelectric, geothermal and solar power generation facilities and coal-fired power plants that can supply the power requirements of the steel project.

Mr Rubio said new power projects for completion this year would drive Aboitiz Power’s future growth. He said these would include the 600-MW GN Power Dinginin project, 300-MW plant of Therma Visayas Inc and 68-MW Manolo Fortich hydroelectric power plant.

Mr Rubio said that “We are always on the lookout. We’ve always said we’re always exploring in Indonesia, Vietnam and Myanmar and we’ve been talking about it for quite some time and those will bear fruit one way or the other.”

HBIS, Huili Investment Fund, Steel Asia and Phividec Industrial Authority, earlier signed an agreement to build an integrated iron and steel project in Misamis Oriental province.

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Posted By : Joykumar Irom on Thu, 17 Jan 2019
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