By Alena Mae S. Flores Posted on Jan. 24, 2013 at 12:01am
DMCI Holdings Inc., owned by the Consunji family, is exploring talks with local banks for a P12-billion loan to partly finance the expansion of the 600-megawatt Calaca coal-fired power plant in Batangas.
DMCI Holdings president Isidro Consunji said the company was looking for financing opportunities to raise the P12-billion debt portion of the power expansion project costing P20 billion. DMCI Holdings is expanding the power plant in two phases, with each capable of generating 300 MW, to bring the total capacity of the complex to 1,200 MW.
“Most likely [it is a] consortium of local banks. Project cost including interest during construction is about P20 billion. Debt is about P12 billion,” Consunji said.
Southwest Luzon Power Generation Corp., the wholly-owned subsidiary of Semirara Mining Corp., last year signed an P11.5-billion loan agreement with three local banks to finance the first phase (300-MW) expansion of the Calaca coal plant.
The banks are Banco de Oro Unibank Inc., Bank of the Philippine Islands and China Banking Corp. BDO Capital and Investments Corp. acted as lead arranger. source
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