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Napocor awards 100,000 T coal contract to Philippine firm

Tue May 26, 2009 10:24pm EDT

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MANILA, May 27 (Reuters) - Philippine electricity producer National Power Corp (Napocor) said on Wednesday it has awarded a contract to oil and gas explorer PNOC-Exploration Corp (PEC.PS) (PECB.PS) to supply 100,000 tonnes of coal to the state-run power firm.

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 on its Web site. (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.

($1 = 47.31 pesos)

(Reporting by Manolo Serapio Jr.; Editing by Kim Coghill)



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