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