May 21, 2013

SMC unit allots $1.5 B for 2 power plants

SMC Global Power Holdings Corp., the power generation unit  San Miguel Corp., is investing $1.5  B for the construction of two new power plants.  The energy unit is spending about $1 B for the construction of a 600-megawatt coal fired-plant in Bataan in northern Luzon and $500  M for another plant in Davao.

Construction for the two plants has already started. The two plants should start operating in the middle of 2015. Funding will come from internally-generated funds. - WealthSec