Transco Philippines National Grid

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In January 2009, National Transmission Corp(Transco) concessionaire contract reached financial closure under a 25-year BROT. This concessionaire contract was awarded in December 2007 through competitive bidding to National Grid Corporation of the Philippines (NGCP), a consortium made up of State Grid Corporation of China, Coyiuto-Group-led Calaca High Power Corporation, and Monte Oro Grid Resources Corp. NGCP's successful bidding price was US$3.95 billion. The other bidder was the consortium of TPG Aurora B.V. of Netherlands with San Miguel Energy Corporation and Malaysian firm TNB Prai Sdn Bhd, which made a bid offer of US$3.905 billion. A consortium of Two Rivers Pacific Holdings Corp. and Terna-Rete Electtrica Nazionale SpA and a consortium of Citadel Holdings Inc. and Power Grid Corp. of India Ltd. were also prequalified but did not submit final bids. In the failed earlier auction in 2006, the Citadel-Terna consortium was the sole bidder for the concession and the Philippine government entered into a negotiated sale rather than going through another auction. Under the terms of agreement, National Grid Corporation of the Philippines (NGCP) had to pay 25% of the total bid price upfront at the signature, with the remaining 75% to issue over a period of 20 years. At a 10% discount, the present value of those payments amount to US$2,248 million. In addition, the concessionaire will have to invest US$213 million(PHP10 billion) a year for the next three years (total US$640 million). As for the financing, US$42.7 million(PHP2 billion) term loan was provided by Banco de Oro Unibank Inc. TransCo's nationwide network consists of 20,236 circuit km(combined length of transmission and sub-transmission) with a total capacity of 24,607 mega-volt amperes. In 2012, National Grid Corp announced a rehabilitation of the transmission line in Benguet province at a cost of P404 million (US$9.5 million). Add Monte Oro Grid Resources Corp Add Calaca High Power Corp Coyiuto Group as sponsor! No percentage of ownership info 3950 640 for three years - 2009, 2010, 2011(this couldn't be input)