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PHILIPPINES: Joint venture memorandum of understanding (MOU) regarding proposed construction of $60,000,000 coal-fired power plant including partner search, PNOC-EXPLORATION CORP. [Philippines] - Order #: 032502.

Publication: WWP-Report on Engineering Construct & Plant Operations in the Developing World
Publication Date: 01-MAR-02 		Format: Online - approximately 1223 words
Delivery: Immediate Online Access

Article Excerpt
PROJECT OVERVIEW:

The local PNOC-EXPLORATION CORP., a subsidiary of state-owned PHILIPPINE NATIONAL OIL CO. (PNOC), recently signed a memorandum of understanding (MOU) with the provincial government of Isabela regarding the construction of a new power station.

According, to the terms of the MOU, the partnership is planning to build a coal-fired power station with an installed generating capacity of 50 Mw. In addition, PNOC has also signed MOUs with 2 electricity cooperatives in Isabela to supply a maximum of 20 Mw to one and 35 Mw to the other.

PNOC-EXPLORATION holds the exploration and production rights to 9 coal blocks covering 9,000 hectares. The company has estimated that the site holds 28 million metric tons of recoverable coal reserves, sufficient to fire a 150 Mw power plant for 20 years. According to Refino B. Bomasang, PNOC EXPLORATION President, the coal project will be a pioneering one in the country since it seeks to utilize low rank indigenous coal for power generation using the latest clean coal technologies.

As things currently stand, the would-be partners hope to advance...

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