San Miguel Corp., through its power generation arm SMC Global Power Holdings (SMC Power), is investing $1.5 billion for its two planned power projects that can generate a total of 900 megawatts for the Luzon and Mindanao grids.
In a briefing Tuesday, San Miguel president Ramon S. Ang explained that the planned coal-fired power plant in Bataan, worth an estimated $1 billion, is expected to generate 600 MW while the $500-million Davao coal facility will generate 300 MW. According to Ang, construction of both coal-fired power plants started in January this year following the signing of engineering, procurement and construction contracts with Formosa Heavy Industries Corp. and True North Manufacturing Services Corp. for the planned facilities. Both are expected to start commercial operations by the middle of 2015.The company's cash flow would fund these facilities, he added.
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