Semirara Mining and Power Corp. (SMPC) plans to further expand its power generation business, including a possible investment in liquefied natural gas (LNG).
“As we embark on the next chapter, our primary challenge lies in sustaining our company’s growth and success. We are exploring alternative revenue streams, such as expanding our power generation capacity and pursuing new mining opportunities beyond Semirara island,” said Isidro Consunji, SMPC chairman and chief executive officer, at the company’s virtual stockholders’ meeting yesterday.
“The Calaca (in Batangas) location is ideal for LNG as well as coal. The question is really just an issue of business viability — but physically and technically, there is no reason why SMPC cannot go (in)to LNG,” Consunji added.
“We’ve studied the proposed transfer of DMCI Mining from DMCI Holdings to Semirara.
However, our finance people concluded that the cost involved in such transfer will make it very expensive. Secondly, the ability to determine a fair price for both set of stockholders — DMCI and Semirara – is extremely difficult considering the fact that bulk of the mining assets of DMCI Mining are not fully permitted,” Consunji said. -Jed Macapagal
