San Miguel Corp. has plans to build two new power plants in Luzon, as well as three in Mindanao. This will provide the publicly listed conglomerate with an extra capacity of 1,200 megawatts at a cost of $4.2 billion. This information was revealed by a top company official earlier in the week.
SMC President Ramon S. Ang was quoted as saying: “We are doing those projects in Davao to help address the shortage of power in Mindanao.” Along with its subsidiaries, SMC is among the country’s largest conglomerates, with sales translating to around 5.1% of the Philippine GPD in 2015.
