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NEWS UPDATES 28 May 2009

Philippine state firm awards coal contract to lone bidder

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Philippine electricity producer National Power Corp (Napocor) said on Wednesday it has awarded a contract to oil and gas explorer PNOC-Exploration Corp to supply 100,000 tonnes of coal to the state-run power firm, reported Reuters.

PNOC-EC bid 3,890.7 pesos ($82.24) per tonne for the local blended coal meant for the Naga-Cebu power station in central Philippines, in line with the government's budget, Napocor said on its Website. (www . napocor . gov . ph)

PNOC-EC was the lone bidder for the coal tender on March 18 which Napocor had terminated after PNOC-EC fell short of the required bid bond.

PNOC-EC later submitted a fresh bond and Napocor reconsidered its bid, said Edmund Anguluan, chairman of the bidding committee.

It was the second tender for the same volume of coal for Naga-Cebu after a failed bidding in December when potential bidders found Napocor's budget for the consignment too low.

Napocor imports most of its coal requirements but sources some from local suppliers. The company has said it needs nearly 3.5 million tonnes of imported coal this year, and has so far awarded 1.365 million tonnes to several Indonesian suppliers.


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