PNOC-EC says talks with San Miguel still on

01-Sep-2010 Intellasia | BusinessWorld Online | 7:01 AM Print This Post

DIVERSIFIED San Miguel Corp. and the Philippine National Oil Co.-Exploration Corp. (PNOC-EC) are still in talks for a supply agreement involving a coal mine and a power plant in Isabela.

PNOC-EC President Rafael E. del Pilar told reporters the listed San Miguel remains interested in a partnership with state-led PNOC-EC.

del Pilar said the discussions between San Miguel and the state firm revolve around PNOC-EC supplying coal for a power plant that San Miguel plans to build in the area. “We will own the mine and they will own the power plant,” he said earlier.

“The recommendation [for the plant] is [a capacity of] 50 megawatts ( MW), which can be upgraded to 100 MW,” he said.

San Miguel has bought three coal miners in Southern Mindanao — Daguma Agro Minerals, Inc., Sultan Energy Philippines Corp., and Bonanza Energy

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