| Add RSS Feed

12 December 2007 - The group of Monte Oro Grid Resources Corp. and China's State Grid Corp. submitted the highest bid of $3.95bn at an auction Wednesday for a 25-year concession to operate National Transmission Corp (Transco) the Philippines nation's power grid, the government said.

State Grid Corp. is the larger of China's two state-owned power transmission companies.
The Monte Oro consortium beat the offer of $3.905bn from the team of Philippine-based food and beverage conglomerate San Miguel Corp, TPG Aurora BV and Malaysian utility Tenaga Nasional.

There were only two groups who showed up for the auction, after a third prequalified bidder, a consortium led by Philippine holding company Metro Pacific Investments Corp decided not to participate.

The Philippine government has been trying to privatize Transco since 2003 and the latest auction is the fifth attempt and the second this year.

| Add RSS Feed

---

More Industry News Articles >

Search Archives >

Power Engineering Article Categories:

Business		Projects/Contracts
Industry News		Deregulation
Environmental		Русский язык
Power Generation Young Professionals		Honeywell Automation & Control Solutions
HoneyWell Press Releases		HoneyWell Product Information
Power Engineering International Current Issue Table of Contents
Power Engineering Current Issue Table of Contents
Potencia Current Issue Table of Contents
Nuclear Power International Current Issue Table of Contents
Middle East Energy Current Issue Table of Contents

---

Search Products Buyer's Guide >

Search Industry Jobs >

Magazine & E-Newsletter Subscriptions >