Metro Alliance to rehabilitate polyethylene plant in Bataan
By Zinnia B. Dela Peña | Updated September 18, 2006 -
Metro Alliance Holdings & Equities Corp., together with its foreign partner, NPC
International of Iran, will spend a combined $20 million to re-
Metro Alliance chairman and president Renato Magadia said the estimated rehabilitation cost of the polyethylene plant is $80 to $85 million.
Metro Alliance, a company majority-
"Recommissioning should happen before the end of the year or early next year," Magadia said.
Sourcing of funds will come from the sale of Metro Alliance’s stake in NPC Alliance.
The Bataan polyethylene plant has a rated capacity of 275,000 metric tons a year, with enough room for future expansion. It uses the BP innovene gas phase process, which entails processing polyethylene resin for distribution to plastic producers.
The plant was decommissioned in 2003, before Metro Alliance acquired it last year through a debt and equity purchase from British Petroleum, Malaysia’s Petronas and Japan’s Sumitomo Corp.
The acquisition of the Bataan polyethylene plant was done through unit Polymax Worldwide Ltd., a company incorporated in the British Virgin Islands and was used as the acquisition vehicle in the purchase of the plant
When asked whether the group was still open to selling its remaining 40-
The company has reduced its loans to $7 million from $16 million last year.
Singapore firm, Metro Alliance plan to reopen petrochem plant
Philippine Daily Inquirer I By Abegail L. Ho I Updated March 11, 2005
Singapore firm Pan Pacific Capital Advisors Pte Ldt. And Metro Alliance Holdings
and Equities Corp. yesterday signed a memorandum of understanding (MOU) to jointly
undertake the re-
The MOU contains the basis terms of reference governing the funding of the re-
The Bataan polyethylene plant has a rated capacity of 275,000 metric tons per year
The facility uses the renowned BP inovene gas phase process, which entails the processing of the polyethylene resin for distribution to local plastic producers.
It was decommissioned in 2003, before it was acquired by Metro Alliance last year through a debt and equity purchase from the consortium of the United Kingdom’s British Petroleum, Malaysia’s Petronas and Japan’s Sumitomo.
Metro Alliance invests $30-
Philippine Star I By Zinnia B. Dela Peña | Updated February 11, 2004 -
Located in the financial nerve center of London, Polymax executes bulk purchase and distribution of rubber and allied raw materials. It has a manufacturing base in Asia.
In a disclosure to the Philippine Stock Exchange, Metro Alliance said the company is in the process of acquiring a petrochemical plant.
Metro Alliance is a holding company with investments in subsidiaries and affiliates whose products range from services such as third-
It has a 34.6 percent stake in Mabuhay Vinyl Corp. and owns 60 percent of Asia Health Inc.
Metro Alliance (formerly Marsman & Co. Inc.) was established in 1929 as a management and trading company. It diversified into pharmaceutical and food products distribution in 1940 by acquiring the businesses of the Pacific Commercial Co. and the Insular Drug Co.
In 1995, Marsman acquired Metro Drug Distribution Inc. from Metro Pacific Corp. but in 2000, the company completely divested of its holdings in Metro Drug, Inc. (33.13 percent) and and JDH-