Manila Electric Co. and Aboitiz Power Corp. expressed interest to participate in the privatization of Zamboanga City Electric Cooperative Inc. or Zamcelco.
National Electrification Administration administrator Edita Bueno said preparations for the privatization process for Zamcelco was now underway.
“The TOR [terms of reference] for Zamcelco’s IMC is still being done by Zamcelco’s consultant. Once formalized, the same will be submitted to NEA by coop board for approval. Once approved, the process will begin. We expect this to be done within this year and before the year ends,” Bueno said.
Alsons Consolidated Resources Corp. executive vice president Tirso Santillan Jr. confirmed Meralco and Aboitiz Power’s interest in the electric cooperative.
Santillan said Alsons Consolidated Resources Corp. was building a 105-megawatt coal plant in Zamboanga within the franchise area of Zamboanga.