April 17, 2013

Filinvest unit to put up P30B plant in Misamis Oriental

FDC Misamis Power Corp., a unit of the Gotianun group’s Filinvest Development Corp., is investing P30 billion to put up a 405-megawatt thermal power plant at the Phividec Industrial Estate in Misamis Oriental.

At the Palace on Wednesday, President Aquino witnessed the signing of the multibillion-peso deal between Phividec Industrial Authority, a government-owned and -controlled corporation, and Filinvest Development Corp. (FDC) Utilities Inc. for a 28-year lease contract covering an initial 84.4 hectares of land in Villanueva, Misamis Oriental.

The leased portion of Phividec’s industrial estate will become the site of a coal-fired power plant that will provide additional energy supply to power-starved areas in Mindanao.

Full news here: http://business.inquirer.net/117353/filinvest-unit-to-put-up-p30b-plant-in-misamis-oriental