Another South Korean firm is gearing up for a big-ticket power infrastructure package for the Philippines, this time a proposed 1,200-megawatt coal-fired generator complex tagged at 2.2 trillion won or about P106.5 billon.
SK Engineering & Construction Co. Ltd. on June 15 said it had signed a letter of intent to build the “high-efficiency, eco-friendly” thermal power plant.
The LOI was presented ceremonially to Philippine officials including President Duterte and Energy Secretary Alfonso Cusi during their visit to Seoul earlier this month.
The company said the project would involve two 600-MW power plants that will be built in Luzon.
“We will build an eco-friendly coal-fired power plant using domestic (South Korean) funds in the Philippines to resolve the power shortage and contribute to job creation,” SK E&C president Ahn Jae-hyun said.