Ang offers to develop PNOC property in Bataan
Tycoon Ramon Ang has offered to develop the Philippine National Oil Co.’s sprawling 500-hectare property in Bataan, conveniently located near Petron Corp.’s refinery. File
MANILA, Philippines - Tycoon Ramon Ang has offered to develop the Philippine National Oil Co.’s sprawling 500-hectare property in Bataan, conveniently located near Petron Corp.’s refinery.
In an interview, PNOC president Reuben Lista said Ang recently expressed interest in developing the property and has been asked to provide more details of his proposal.
“Ramon Ang has expressed interest in the property so we asked him to submit a development plan,” Lista told The Star last week.
He said he could not yet disclose Ang’s idea but Lista said whatever development plan PNOC would approve for the property – whether from Ang or other proponents would be energy-related.
It could be a joint venture with PNOC, he said.
“We can put up an oil depot there and if LNG prices go down, we can put up an LNG plant,” Lista said.
Lista said they would study Ang’s offer and those from other parties who have expressed interest in developing the property.
Aside from Ang, Chinese and American investors are also interested in the property, he said.
Lista said PNOC would be studying all offers to make sure the government would not be put at a disadvantage.
PNOC recently rejected the offer of businessman Gregorio Araneta to develop a portion of the area as an LNG (liquefied natural gas) hub.
“If we approved that, we would be sent to jail by the Ombudsman. If he submitted a reasonable price and we would not be imprisoned, we would have gladly given it to him,” Lista said.
He declined to reveal details of the offer, citing confidentiality.
However, he said Araneta is free to revise his offer.
“Anybody can submit, whoever is interested,” he said.
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