Alsons to build 600MW Philippine coal-fired plant

Alsons Consolidated Resources will add 600MW of coal-fired power generating capacity in Mindanao over the next five years.

The firm, a member of the Alcantara Group, is seeking a partner to undertake the $280 million power expansion project in the Sarangani province.

ACR chief finance officer Luis Ymson said that the company is likely to tap between Japan's Toyota Tsusho and Thailand's Electricity Generating.

Ymson added that if they could start this year, the plant will be operational by 2014.

ACR will secure a 75% stake in the project while the foreign partner, which will be chosen by next month, will acquire the remaining 25% interest.