Alcantara group says power projects lifted 2012 profit

MANILA, Philippines – Alsons Consolidated Resources Inc., the listed holding firm of the Alcantara group, said Monday, January 7, its 2012 earnings probably grew by double digits from the year before on the back of ongoing power projects.

In a disclosure to the Philippine Stock Exchange, Alsons said it expects to have ended 2012 with a net income of P567.2 million, up 24% from the nearly P456 million it earned in 20122.

“The increased net income attributable to the parent was the result of other income earned from Alsons’ pipeline of ongoing power projects,” said the company’s CFO Luis Ymson Jr.

Alsons’ power generation subsidiaries include Sarangani Energy Corp., San Ramon Power Inc. and Mapalad Power Corp.

Sarangani Energy completed the financing for the first phase of its coal-fired power plant in Maasim, Sarangani. The first phase will begin operations by August 2015 and generate 105 megawatts (MW) capacity. The plant project will be undertaken in two phases with total capacity of 210 MW.

San Ramon on the other hand is set to develop its next 105 MW power plant in San, Ramon, Talisayan in Zamboanga City.

Mapalad meanwhile was granted the right to acquire the 102-MW Iligan diesel power plant in Iligan City after a competitive public bidding.

Aside from power generation, the Alcantara group is engaged in property development, aquaculture and agribusiness. – Rappler.com