Toyota Tsusho buys into Sarangani Energy Corp.

Toyota Tsusho Corp., the Toyota Group’s trading arm, is buying a 25-percent stake in Sarangani Energy Corp. of the Alcantara Group.   In a disclosure to the Philippine Stock Exchange Tuesday, Alcantara’s Alsons Consolidated Resources Inc. said it will acquire the remaining 75 percent in the energy company.   Sarangani Energy is currently building a power plant in Maasim, Sarangani.   Construction for the first phase of the project – set to generate 105 megawatts (MW) – started last June. It would be completed in 2015.   The power plant has a full two-phase capacity of 210 MW.   The shareholders agreement is expected to finish before the end of August.   Toyota Tsusho is the listed trading conglomerate of Toyota in over 60 countries. — MJC/VS, GMA News