BALANGA CITY, Bataan, Philippines — A 600-megawatt thermal power plant will be constructed in this province and is expected to support the country’s energy requirement in the next five years, authorities here said.
Local officials led by Bataan Gov. Abet Garcia on Thursday signed a memorandum of understanding with the Korean-Japanese firm Hanjo Group Manufacturing Inc., which will put up the power plant.
The project, which costs about P50 billion, will generate 20,000 construction jobs and will boost the local economy, Garcia said.
Chris Takayama, chief finance officer of Hanjo Group, said Bataan has a good track record in terms of dealing with foreign investors.
The project proponents have yet to identify a site for the power plant or the date of completion, but Garcia said studies are underway to pinpoint a good location for the project.
He added that the new power plant will start construction in April and will not have any conflict with the existing power plants in the province. /ee