First Gen shares higher on reported interest in power plant
Sunday, March 05, 2006
XFN-Asia
ELECTRICITY generator First Gen Corp. climbed higher in early trade after a newspaper reported that it would bid for a 700-megawatt geothermal power complex located near the capital Manila, dealers said.
First Gen, a unit of First Philippine Holdings Corp,, gained 0.50 pesos to 45 on 190,200 shares.
The Philippine Star newspaper quoted First Gen president Federico Lopez as saying that aside from the Tiwi-Makban geothermal facility, which the government would auction off in the first half, the company is also interested in bidding for a 600-megawatt coal-fired power plant in Batangas province.
First Gen earned about 8.5 billion pesos from a maiden offering of its shares last month.
(One dollar = 51.30 pesos)
Copyright 2006 Xinhua Financial News Service-Asia. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
posted by philpower @ 9:27 PM,
