Philippines' DMCI Inks MOU For Coal-Fired Power Plant
Wednesday, December 15, 2004
MANILA (Dow Jones)--DMCI Holdings Inc. (DMC.PH), a Philippine construction company, said Tuesday it has signed a memorandum of understanding with a local government in central Philippines to build a coal-fired power plant.
The company said the agreement seeks to facilitate the implementation of the project, which aims to avert a potential power shortage on the central island of Panay.
DMCI has long planned to pursue a 100-megawatt power plant in central Philippines, with a view to using coal from its unit Semirara Mining Corp. (SCC.PH).
The project had been put on the back burner due to excess electricity capacity in the region in recent years but the government is now projecting a potential power shortage in the area in the next two to three years.
For its part, the local government of the town of Concepcion has agreed to assist DMCI in providing access to the proposed plant site and in securing the permits necessary for the company to undertake the project.
posted by philpower @ 11:47 AM,
