British Gas to put in further $500 million in RP |
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| Written by Jennibeth Cabrera | |
| Friday, 01 December 2006 | |
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Chief executive officer of British Gas Firm Frank Chapman arrived in Manila last Tuesday, October 24. Chapman accompanied by Energy Secretary Raphael Lotilla, British Ambassador Peter Beckingham, Wayne Roberts, BG asset general manager for Asia Pacific, and Marcelo Figueroa, BG country manager for the Philippines disclosed his company’s expansion plans through a closed door courtesy call on President Arroyo last Wednesday morning, October 25 at Malacanang’s music room. British firm by now operates two power plants in Batangas City and was expanding its Philippine operations with a further investment of $500 million. Chapman would take on the new natural gas projects in Batangas. BG group, which operates in different parts of the world, is employing almost 5,390 workers worldwide. Its main focus is build and supply natural gas to markets roughly around the world, while its main businesses are in exploration, production, liquefied natural gas, transmission and power distribution. Through a joint venture agreement with the British Gas, Vice CEO of First Gas Philippines, Peter Garrucho, said that they would like to expand the 1,500-megawatt collective capacity of their two power plants in Sta. Rita and San Lorenzo, both in Batangas City, to 2,000 megawatts, or an added 500mw. He also held that his company intends to develop liquefied natural gas in its Batangas plants. The President, very much happy for the expansion plans , said that she was looking forward to a fruitful business relation between the Philippines and the British company; and hoping for mutual business opportunities ahead. |
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| Last Updated ( Thursday, 04 January 2007 ) |
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