Philippine coal producer Semirara Mining Corp said that it had accepted a proposal for a PHP 14 billion (USD 330 million) syndicated loan to finance its 300-megawatt coal-fired power plant project.

BDO Capital & Investment Corp, a Banco de Oro Unibank unit, arranged the loan facility, Semirara told the stock exchange.

Semirara, a unit of conglomerate DMCI Holdings Inc said the power plant will be constructed near its 600 MW coal fired power plant in Batangas, south of the capital Manila.

(Sourced from Reuters)