MANILA, Philippines – Atlantic, Gulf and Pacific Co. (AG&P) an industrial process outsourcing company, has moved a step closer in its plan to build a 2,400-megawatt power plant in Mariveles, Bataan.
This after AG&P and Philippine National Oil Co.-Alternative Fuels Corp. (PNOC-AFC) signed an agreement for the lease of the latter’s industrial lot.
“We have what we call a supplement interim lease agreement,” PNOC-AFC president Dante Canlas told reporters on the sidelines of the LNG Supply Transport & Storage Philippines 2013 Forum held yesterday.
Under the plan, AG&P will lease some 250 hectares of land in PNOC-AFC’s industrial estate in Bataan. Canlas said AG&P has given PNOC-AFC the option to take a10 percent equity in the project.