Transco to bid out P2-B Negros-Panay transmission upgrade proj by end-Feb

The National Transmission Corp. (Transco) will bid out the P2-billion Negros-Panay transmission upgrading project by the end of this month, Transco president Alan Ortiz said.

He said the project is set for completion after 15 months, or by Dec. 2005, upon the awarding of the contract in June.

Ortiz said the Japan Bank for International Cooperation (JBIC)/Miyazawa Fund could be tapped for the project funding.

The Negros-Panay project is one of three major interconnection components slated for funding by the Japanese government.

He said they have already discussed with JBIC the funding for another component, the Leyte-Cebu interconnection project.

Leyte-Cebu is scheduled for commercial operations by the first quarter of 2005, with the signing of the contract for the winning bidder expected in the latter part of this month.

Ortiz said they are also requesting JBIC to finance the feasibility study for the upgrading of the P14.59 billion Leyte-Mindanao interconnection project.

"We have requested JBIC to fund a consulting company to upgrade the viability study for Leyte-Mindanao. We expect to receive a response from JBIC next month," he said.

Ortiz said they intend to bid out the contract for the study by the second semester of this year.

"We hope to make the study and finish the project in time for the 2008 target completion for the project," he said.

He added that there are already six power firms from Europe and Japan which have signified interest in bidding for the project.

Transco will need about P148.1 billion in investments over the next 10 years for the upgrading of its nationwide transmission network.