PNOC plans to develop real estate properties in Luzon
posted December 26, 2016 at 08:55 pm by Alena Mae S. Flores
http://manilastandard.net/
State-owned Philippine National Oil Co. plans to transform its properties in Batangas, Bataan and Metro Manila into energy projects and other income-generating ventures.
PNOC president Reuben Lista said the plan was a part of its transformation into an operating company from a pure holdings group.
Lista said a technical working group was formed for the purpose of creating manpower and other logistics to operate PNOC’s energy supply base in Mabini, Batangas and convert it into a fully operational energy hub.
“The site offers PNOC the opportunity to implement its own energy projects and thus fulfill its mandate as an operating energy company,” he said in a memorandum to PNOC board.
PNOC acquired the Batangas ESB as a property dividend from Petron Corp. in 1993. It has a total land area of 19.22 hectares, including 10.55 hectares leased to PNOC Exploration Corp. and 4.27 hectares to Petron where the latter operates a bulk plant. The remaining 4.4 hectares are hilly portions.
Lista said the property leased to PNOC Exploration had the basic necessary infrastructure and foreshore area. The site has a triangular pier, marginal wharf and roll-on, roll off pier, office buildings, warehouses and open and cemented yard.
PNOC plans to negotiate with Petron for higher rentals for the 4.27-hectare bulk plant site.
“Should Petron fail to agree to our required rental fee, we shall exclude the site for renewal of lease agreement for bulk plants and transform the site as part of the energy hub that PNOC envisions for the ESB land,” Lista said.
He said another property that could be developed into an energy hub is the former Batangas coal terminal property with an area of 5.3 hectares in Bauan, Batangas.
Subsidiary PNOC Exploration turned over the property to PNOC last year.
Lista said PNOC already initiated the master development planning for the Batangas coal property, which is adjacent to Keppel Shipyard, as a possible site of an energy project.
PNOC is also looking at offering for joint venture the development of PNOC Energy Center in Taguig City. PNOC owns 2.9 hectares of the property while the Energy Department owns 2.3 hectares.
Lista said the energy center would qualify as a prime site for development into a viable mixed-use development.
“To achieve maximum returns for the property, PNOC [with the DOE] may consider offering the property for a joint venture development with other parties,” he said.
Lista said the company also planned to develop a property in Sta. Mesa covering an area of 7,597 square meters.
Lista said the project, previously a subject of litigation, was now resolved and “offers PNOC the opportunity to go into joint venire to develop the site into a mixed office/commercial/residential development.”
