Alsons, Toyota Tsusho talks on Mindanao power plant almost done

The companies planning to build a new coal-fired power plant in Mindanao are in the final stages of negotiations covering the project and the agreement on shareholders’ equity.   Alsons Consolidated Resources Inc. on Tuesday told the Philippine Stock Exchange the P1-billion capital infusion by Japan’s Toyota Tsusho Corp. in the joint venture Sarangani Energy Corp. is now being finalized.   "Both parties are ironing out the final details on the project documentation of the shareholders agreement," said Alsons chief financial officer corporate information officer Luis Ymson Jr., adding, "We are also awaiting the   "As soon as the shareholders agreement has been finalized, statement will be issued in conformance wit the rules of the regulatory agencies on public disclosures," Ymson noted.   Sarangani Energy intends to build over three-years a 105-MW first phase of the power plant.   To finance the project, Sarangani Energy is eyeing to raise P9.3 billion in syndicated loans from Philippine-based banks.   Sarangani Energy said it has signed sales agreements with the South Cotabato II Electric Cooperative, Inc. covering up to 70 MW of electricity. — VS, GMA News