Thursday 15 November
Powered by Ajaxy
May 10, 2017 @ 20:11

Alcantara family gets P10.5B fresh loan

 

A unit of Alsons Consolidated Resources has obtained a P10.5 billion loan from a group of banks to partly fund the ongoing construction of the second 105-megawatt coal-fired power plant in Sarangani Province.

The loan carries a tenor of 13.5 years including a 3.5-year grace period on principal payment.

Among the local banks which took part in the transaction were BDO Universal Bank, Asia United Bank, Rizal Commercial Banking Corp., United Coconut Planters Bank, Philippine Business Bank, China Bank Savings, and Robinsons Bank Corp.

The plant’s second 105 MW section commenced operations in January 2017 and is targeted for completion in the first half of 2019. It is set to contribute another 105 MW of baseload power to benefit an additional three million residents of South Cotabato, Davao del Sur, Zamboanga del Norte, Zambonga del Sur, Cagayan de Oro and other key areas of Mindanao.

With an estimated cost of $600 million, the plant is the single largest investment in Sarangani Province and the entire Region 12.

Please follow and like us:

Tags: , , , , , , ,

Related Stories
State-run Philippine Ports Authority (PPA) has earmarked P7.1 billion this year for the construction of
Alsons Consolidated Resources, Inc. (ACR) of bilyonaryo Tomas Alcantara is set to complete three major
These three lenders are volting in to form one bigger entity.
Alsons Consolidated Resources Inc. is infusing as much as P1 billion into the 15.1 megawatt


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.