SanMig’s acquires coal mines in Soccsksargen for GenSan coal power plant
From the Philippine Daily Inquirer today, GenSan News Online Mag found out that San Miguel Corporation is hell-bent of pursuing its initial plan to build a coal-fired power plant in General Santos City with the acquisition of more coal mines in the Soccskargen area.
The report, written by Amy Remo says that according the SMC President Ramon S. Ang, “the company was targeting to begin this year the construction of some of its proposed coal-fired facilities in Mindanao.”
The report continues:
In particular, Ang explained, the company would already start studying the logistics and infrastructure requirements for these coal facilities.Ang said the company planned to initially put up a 300-MW mine-mouth coal power plant in General Santos City following the acquisition of a coal mine in the province. A 300-MW coal facility would need about 750,000 tons of coal a year.
Although he did not reveal San Miguel’s planned investment in the facility, Ang said the conglomerate would invest as much as $1 million to produce one megawatt of power from coal resources. This meant that for the initial 300-MW project, San Miguel would need to invest some $300 million or roughly P13.5 billion.
San Miguel acquired last year three coal mines in South Cotabato and Sultan Kudarat with resources capable of generating an initial 1,200 MW. These were previously owned by Daguma Agro Minerals Inc., Bonanza Energy Resources Inc. and Sultan Energy Mining and Development Corp.
Whoa! $300 million is definitely a huge investment for GenSan and could hasten its entry into the major league of prosperous cities in the country alongside Makati, Davao, and Cebu!
It could also alleviate the worsening power crisis besetting the island of Mindanao alongside the proposed Alcantara-owned plant being pushed in Sarangani province.
The problem is, would the people of General Santos City allow it, considering the opposition of some quarters regarding its safety and effects on the ecological balance of Sarangani Bay?
What are your thoughts, dear readers?