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Special
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Written by Sabrina Deparine
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Thursday, 29 April 2010 10:07 |
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Page views: 552 |
Alsons Consolidated Resources Inc. (ACR) has decided to junk its bioethanol project in Cagayan de Oro City.
 In a statement submitted to the Philippine Stock Exchange a few weeks ago, ACR Chief Financial Officer Luis Yamson Jr. said that the company regrets to let go of this project but there were no other options open at present. Since its first announcement, the Cagayan de Oro bioethanol project has been plagued by various deterring factors such as the ambiguities in implementing the Biofuels Act as well as other difficulties in dealing with both government and non-government organizations. ACR cited the unjustifiable delays in the issuance and release of environmental clearance certificate (ECC) by the Department of Environment and Natural Resources regional office; the congressional intervention on the executive branch functions particularly on the issuance of documents for the project; and other interventions from the Catholic church and some NGOs as just some of the problems that they have encountered in this project.
In spite of these unfavorable experiences, ACR will still push through with the other planned projects in the area including a 200-megawatt coal-fired power plant in Maasim, Sarangani. ACR Chairman and President Tomas Alcantara says that the company is now rushing to start on the power facility project.
Although the power facility project in Maasim , Sarangani will not be able to address current issues on power supply shortage, the new plant will be completed in time to meet the growing demand for late 2012 or early 2013.
ACR has existing diesel plants: a 100-megawatt plant in Zamboanga and a 55-megawatt power facility in Alabel, Sarangani. These are fully-operational and have helped ease the power supple shortage in MIndanao. |
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