Triratna welcomes Transco rebid

The Triratna consortium on Wednesday welcomed the government decision to rebid the 25-year concession to operate the National Transmission Corp. “We welcome the foresight of the government," said Asish Shastry, managing director for Southeast Asia at Newbridge Capital, one of the members of the consortium. The Triratna consortium includes American financial firm Newbridge and Malaysian power company Tenaga National Bhd. Their local counterparts are three of the country’s most powerful businessmen—Henry Sy of the SM group, San Miguel Corp. president Ramon S. Ang, and NutriAsia Group head Joselito D. Campos. The Philippine government on Tuesday announced it would rebid the 25-year concession to operate the state power grid it was not able to sell in a failed auction last February 5.-GMANews.TV