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Trans-Asia Oil readies cash for power bids.
(From BusinessWorld (Philippines))
Byline: Ruby Anne M. Rubio
Oil and mineral exploration firm Trans-Asia Oil and Energy Development Corp. has P700 million in ready cash as it continues to focus on emerging opportunities in the power sector.
Company president and chief executive Antonio V. del Rosario said the firm is keen on bidding for geothermal and coal-fired power plants, following reforms put forth in the the Electric Power Industry Reform Act (EPIRA).
On the sidelines of its annual stockholders meeting Monday, Mr. del Rosario said Trans-Asia is in talks with foreign and local prospective partners to bid for the 700-megawatt (MW) …
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