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Lopez firm wins bid for BacMan at $28.25M

Written by Paul Anthony A. Isla / Reporter

Business Mirror
Friday, 07 May 2010 10:05

GOVERNMENT-RUN Power Sector Assets and Liabilities Management Corp. (PSALM) declared on Wednesday the Lopez-led Bacon-Manito (BacMan) Geothermal Inc. as the highest bidder for the 150-megawatt (MW) Bacon-Manito (BacMan) geothermal power plant package.

In a statement, PSALM said Bac-Man Geothermal’s offer of $28.25 million for the Bicol-based geothermal plants bested the $17.8-million bid of Aboitiz-led Therma Power Inc.

PSALM said both bids exceeded the reserve price set by the PSALM board for the BacMan facilities.

PSALM said the Lopez group is among the most active participants in the government’s power-privatization program, having successfully acquired five plant portfolios, including the 1.6-MW Agusan and the 112-MW Pantabangan-Masiway hydropower plants, and the 305-MW Palinpinon-Tongonan geothermal power plant package.

Adhering to its bidding policy, PSALM will formally declare BacMan Geothermal as the winning bidder for the BacMan plants as soon as it has verified the accuracy, authenticity and completeness of the bidding documents that the company has submitted.

With the successful sale of the BacMan plants, PSALM’s privatization level has reached the 91.73 percent mark for all its generation assets in the Luzon and Visayas grids.

PSALM said it expects to complete the privatization of these assets this year.  Located in the provinces of Albay and Sorsogon, the BacMan plant package consists of two steam plant complexes.

The BacMan I geothermal facility is composed of two 55-MW turbines, which were both commissioned in 1993.

BacMan II, on the other hand, consists of two 20-MW units, namely, the Cawayan located in barangay Basud and the Botong in Osiao, Sorsogon City.

The Cawayan unit was commissioned in 1994 and the Botong unit in 1998.

The Energy Development Corp., also a Lopez-led company, supplies the steam that fuels the BacMan geothermal power plants.

Written by Paul Anthony A. Isla / Reporter
Friday, 07 May 2010 10:05

GOVERNMENT-RUN Power Sector Assets and Liabilities Management Corp. (PSALM) declared on Wednesday the Lopez-led Bacon-Manito (BacMan) Geothermal Inc. as the highest bidder for the 150-megawatt (MW) Bacon-Manito (BacMan) geothermal power plant package.

In a statement, PSALM said Bac-Man Geothermal’s offer of $28.25 million for the Bicol-based geothermal plants bested the $17.8-million bid of Aboitiz-led Therma Power Inc.

PSALM said both bids exceeded the reserve price set by the PSALM board for the BacMan facilities.

PSALM said the Lopez group is among the most active participants in the government’s power-privatization program, having successfully acquired five plant portfolios, including the 1.6-MW Agusan and the 112-MW Pantabangan-Masiway hydropower plants, and the 305-MW Palinpinon-Tongonan geothermal power plant package.

Adhering to its bidding policy, PSALM will formally declare BacMan Geothermal as the winning bidder for the BacMan plants as soon as it has verified the accuracy, authenticity and completeness of the bidding documents that the company has submitted.

With the successful sale of the BacMan plants, PSALM’s privatization level has reached the 91.73 percent mark for all its generation assets in the Luzon and Visayas grids.

PSALM said it expects to complete the privatization of these assets this year.  Located in the provinces of Albay and Sorsogon, the BacMan plant package consists of two steam plant complexes.

The BacMan I geothermal facility is composed of two 55-MW turbines, which were both commissioned in 1993.

BacMan II, on the other hand, consists of two 20-MW units, namely, the Cawayan located in barangay Basud and the Botong in Osiao, Sorsogon City.

The Cawayan unit was commissioned in 1994 and the Botong unit in 1998.

The Energy Development Corp., also a Lopez-led company, supplies the steam that fuels the BacMan geothermal power plants.

Filed under: Sorsogon News Updates

Lack of sleep linked to early death: study

The foot of a sleeping patient at the Sainte-Anne psychiatric hospital in Paris. People who get less than six hours sleep per night have an increased risk of dying prematurely, according to British and Italian researchers.

LONDON (AFP) – – People who get less than six hours sleep per night have an increased risk of dying prematurely, researchers said on Wednesday.

Those who slumbered for less than that amount of time were 12 percent more likely to die early, though researchers also found a link between sleeping more than nine hours and premature death.

“If you sleep little, you can develop diabetes, obesity, hypertension and high cholesterol,” Francesco Cappuccio, who led research on the subject at Britain’s University of Warwick, told AFP.

The study, conducted with the Federico II University in Naples, Italy, aggregated decade-long studies from around the world involving more than 1.3 million people and found “unequivocal evidence of the direct link” between lack of sleep and premature death.

“We think that the relation between little sleep and illness is due to a series of hormonal and metabolical mechanisms,” Cappuccio said.

The findings of the study were published in the Sleep journal.

Cappuccio believes the duration of sleep is a public health issue and should be considered as a behavioural risk factor by doctors.

“Society pushes us to sleep less and less,” Cappuccio said, adding that about 20 percent of the population in the United States and Britain sleeps less than five hours.

Sleeping less than six hours is “more common amongst full-time workers, suggesting that it may be due to societal pressures for longer working hours and more shift work”

The study also found a link between sleeping more than nine hours per night and premature death, but Cappuccio said oversleeping is more likely to be an effect of illness, rather than a cause.

“Doctors never ask how much one sleeps, but that could be an indicator that something is wrong,” said Cappuccio, who heads the Sleep, Health and Society Programme at the University of Warwick.

Research showed no adverse effects for those sleeping between six and eight hours per day.

Source: http://tiny.cc/3rwk3

Filed under: Health Tips, Healthy Living,

DFA issues warning on dubious offers for Caribbean jobs

The Department of Foreign Affairs (DFA) warned Wednesday Filipinos seeking jobs in South America to be wary of unscrupulous individuals or companies that require a huge amount of money in exchange for high-paying salaries in the Caribbean.

The warning was issued after the Philippine Embassy in Venezuela revealed that unscrupulous companies that ask for a certain amount of money as well as a Caribbean Community (CARICOM) Skills Certification prior to the processing of job applications in Trinidad and Tobago.

“CARICOM Skills Certificate is meant for the free movement of citizens of CARICOM member-countries, namely Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat (UK), Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago, to work in the Caribbean states. It is not for Filipinos and other foreigners,” the Philippine Embassy in Venezuela said.

“The companies’ profile, company’s registration, and prospective employment contract should be examined carefully. These documents should all be notarized and authenticated by the Trinidad and Tobago Ministry of Foreign Affairs,” it said.

“It is also advisable to verify the existence of such companies with the Philippine Overseas Employment Agency (POEA) or the Embassy before further transacting with them,” it added.

The Philippine Embassy in Venezuela expressed alarm following an email from a Filipino fire engineer in a Saudi Arabian company, who sought assistance on the CARICOM. The Filipino was reportedly given a job as a maintenance and fire safety engineer in Trinidad and Tobago provided that he apply for a CARICOM Skills Certificate and pay US$765 (approximately P34,425) for notarial and legal service fees for his documents.

The DFA has been warning OFWs to be vigilant against illegal recruitment agencies as well as text and e-mail scams.

Just like the internet scam, the text scams required OFWs to transmit money prior to receiving their so-called prizes supposedly to pay for taxes, remittance charges, or donations.

By MADEL R. SABATER
May 5, 2010, 4:46pm

Filed under: OFW Scam, Illegal Recruiter, Overseas Jobs, POEA-Advisory,

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