GENERAL SANTOS CITY (MindaNews/ 5 February)— Construction of the Alcantara-led 210-megawatt coal-fired power plant near a world-class scuba diving spot is set to go full blast, a company official said.
Last week, at least a thousand protesters trooped to nearby Maasim, Sarangani to express their opposition to the $450-million power plant project, which the proponent, Sarangani Energy Corp., boasted will ease the supply shortfall in the area.
Oscar Benedict Contreras III, Alsons Power Business Unit manager for communications and stakeholder relations, said Sarangani Energy, a subsidiary of Alsons Consolidated Resources (ACR), will turn over the site Friday to the contractor for the start of construction works.
Last year, South Korean firm Daelim Industrial Co. Ltd was awarded the contract to build the coal-power plant, which is opposed by various local sectors on concerns over human health and the environment.
“Mobilization for civil works has already begun and some heavy equipment is already at the site,” Contreras told MindaNews.
He said that they have also started the pre-screening of laborers from the locality for the site clearing operations, which gained ground last week.
The contractor will make the final selection of 110 initial workers for the site clearing operations, Contreras said.
Criticizing the project, Ryan Lariba, spokesperson of the Bayan-Soccsksargen, said in a statement that the project should be opposed because it will supposedly add to and worsen the changing climate condition in the area.
He also claimed that the power plant project would not bring down electricity rates, contrary to what the company has been saying.
Instead of pushing for coal power plants, Lariba said the government should encourage investments in environment-friendly power sources like hydro, solar and wind.
Contreras said they respect the views of those opposing the project, adding that they have been engaging “all stakeholders” in dialogues.
Sarangani Energy had acquired an environmental compliance certificate in 2009 from the Department of Environment and Natural Resources.
Last December, Japanese trading firm Toyota Tsusho Corp. acquired 25 percent of Sarangani Energy through an agreement with ACR.
Construction of the power plant would be in two phases, with the first involving 105 MW at a cost of $310 million.
Thirty percent of the project cost, which will be spent over the next three years of construction, will come from equity to be infused by ACR and Toyota Tsusho on a 75:25 basis, Luis Ymson Jr., ACR chief financial officer, said in an earlier statement.
The rest would be through bank financing.
In December, Sarangani Energy announced that they have obtained a P9.3 billion syndicated loan to finance the first phase.
It sealed the loan agreement with a consortium of local banks comprised of BDO Universal Bank (BDO), Asia United Bank (AUB), Rizal Commercial Banking Corp. (RCBC), United Coconut Planters Bank, Philippine Business Bank, Planters Development Bank, and Robinsons Bank. (Bong S. Sarmiento/MindaNews)
