Monday,
December 04, 2017
ABOITIZ Power Corp.
was informed by its wholly-owned subsidiary Aseagas Corp. that the latter will
continue the shutdown of its 8.8-MW biomass power plant in Lian, Batangas to
further assess the plant’s technical problems and determine the appropriate way
forward for the facility. The Lian plant earlier ceased operations due to
unavailability of the supply of organic effluent wastewater from Absolut
Distillers, Inc. Aseagas also disclosed yesterday today that it pre-paid its
outstanding loan with the Development Bank of the Philippines (DBP) in the
amount of P2.368 billion. Aseagas also has invested equity of around P950
million for the biomass plant, and has around P460 million in outstanding
liabilities. (PR)
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