Alsons Consolidated Resources, Inc. is asking its shareholders, along with its Japanese partner, to inject more capital. This is to help fund the company’s second phase of its Sarangani coal-fired power plant. According to Alsons President Tomas I. Alcantara, this has always been part of their plan.
The second phase of the company’s 210-MW baseload plant in Maasim is under the Sarangani Energy Corp. The unit is expected to start operating sometime in 2018. The first phase cost around $300 million, of which $200 million was borrowed and the remaining came from equity shareholders.
