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First Philippine Holdings Corporation is allotting P51 billion for consolidated capital expenditures this year, slightly higher than the P50 billion earmarked in 2021, as it focuses on its power generation and real estate businesses. During the firm’s annual stockholders’ meeting, FPHC Chief Financ
Lopez-led First Gen Corporation has earmarked $550-million capital expenditure (capex) to bankroll its ongoing projects, with the bulk going into into expansion ventures of subsidiary Energy Development Corporation. During the company’s annual stockholders meeting, Emmanuel P. Singson, chief fin
Published May 19, 2021, 2:33 PM
Lopez-led First Gen Corporation has earmarked US$530 million capital expenditures (capex) this year that will be funneled mainly to the expansion projects of subsidiary Energy Development Corporation (EDC) as well as its ongoing interim liquefied natural gas (LNG) import terminal.
During the company’s annual stockholders’ meeting, First Gen Chief Finance Officer Emmanuel P. Singson stated that “EDC is targeting a higher capex this year and is planning to spend US$280 million to catch up on its drilling and investments, as the Covid-19 pandemic resulted in the postponement of key activities last year.”
The EDC projects being advanced this year will include binary growth facilities – primarily its 3.6-megawatt Mindanao-3 and the 29MW Palayan Bayan project.