600-MW power projects of San Miguel get BOI thumbs up

Two power projects of San Miguel Consolidated Power Corp. were given the thumbs up by the Board of Investments to receive income tax holidays and duty-free importation of capital equipment under the government's Investment Priorities Plan.

 

The  projects comprise an aggregate capacity of 600 megawatts (MW), which include the P25.84-billion, 300-MW coal fired power plant in Davao del Sur and the P25.5-billion, 300-MW plant in Bataan, the BOI noted in a statement Monday. 

 

The power plants will start commercial operations in 2015 and 2016, respectively, using coal from Indonesia or Australia, according to the BOI. 

 

"The firm, however, will eventually utilize local coal coming from the Daguma coal mines which is owned by their affiliate San Miguel Energy Corp.," the BOI said. 

 

San Miguel Consolidated is a unit of San Miguel Global Power Holdings Corp., the holding firm of diversified conglomerate San Miguel Corp.'s for electricity generation projects. — VS, GMA News