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Home | Money Matters | Filinvest’s power arm ready to serve Mnao’s future steel industry

Filinvest’s power arm ready to serve Mnao’s future steel industry

Gotianun family-led FDC Misamis Power Corporation (FDC Misamis) in Villanueva, Misamis Oriental Province is ready to respond to the surging power demand on Mindanao island.

Earlier this year, the Mindanao Development Authority (MinDa) released an information bulletin that by 2025 Mindanao’s current demand, which is around 1,600-MW to 1,700-MW, will increase by 500-MW to 600-MW.

Per the National Grid Corporation of the Philippines (NGCP), Mindanao’s current capacity reaches around 2,400-MW to 2,500-MW.

Although there is currently an oversupply of approximately 800-MW in the region, MinDa reiterated that Mindanao would still need an additional 100-MW per year to cope with rising power demand.

MinDa cited some of the major upcoming economic projects in Mindanao, which would be contributing to the demand for power, such as the Mindanao Railway System (MRS), new hotels and malls, and the entry of two giant foreign steel companies in Davao City and Misamis Oriental.

In Misamis Oriental, HBIS Group, China’s second-biggest steel producing company, plans to set up its facilities at PHIVIDEC Industrial Estate in Villanueva town anytime this year.

The said company is pouring in $4.4-billion in investments through a two-phase project with the objective of producing millions of tons of hotolled coil and 600,000 tons of slab annually in the first phase, and another eight (8) million tons in the following phase.

FDC Misamis President and CEO Mr. Juan Eugenio L. Roxas emphasized the company’s commitment to provide electricity to HBIS, as well as to existing and potential PHIVIDEC locators.

“Given the opportunity, we are very much ready to supply our neighboring industries considering that we have the necessary advantage over other suppliers. We have proven the plant’s reliability since the start of its commercial operation in 2016. We are located near the steel plants’ proposed site which means less susceptibility to disturbance in the transmission system and, of course, minimal or zero line rental charge once WESM in Mindanao is operational,” said Roxas.

FDC Misamis Plant Manager Luis Lagarnia, Jr., confirmed the consistent performance of the coal-fired power plant for the past two (2) years.

“Facility preservation is key in sustaining our performance. We have avoided any unplanned shutdown through the conduct of diligent monitoring and maintenance on our major electrical equipment,” said Lagarnia.

FDC Misamis still offers one of the cheapest electricity rates in the entire Mindanao. “FDC Misamis remains true to its commitment in delivering sustainable power to Mindanao.  (PR)

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TREND MAKER. Mindanao Gold Star Daily was established in 1989 to set ablaze a new meaning & flame to the local newspaper business. Throughout the years it continued its focus and interest in the rural areas & pioneered the growth of countryside journalism.

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