San Miguel seeks funding for $2.4 billion power plants


Posted at Jun 06 2019 03:29 PM

MANILA - San Miguel Corp on Thursday said its energy unit was seeking to raise funds for 2 coal-fired power plants worth $2.4 billion (P124.2 billion).

The SMC Global Power Holdings Corp plants will be located in Pagbilao, Quezon and Mariveles, Bataan, San Miguel said in a disclosure to the stock exchange.

San Miguel also confirmed its plan to spend P10 billion for its proposed terminal on the former site of the Pandacan Oil depot.