US energy company to invest in the Philippines

The GN Power Mariveles Coal Plant (GMCP) officials have expressed to President Aquino of their intention to expand their operations in the Philippines with an investment of close to $1 billion, according to the Philippine embassy in Washington.  Aquino met with  Dan Chalmers, chief executive officer of GN Power; Jason Oliver, senior vice president for Development of Sithe Global Power; and Robert Warburton of Denham Capital, when the President was informed of the coal plant expansion in Bataan to be able to provide more jobs to Filipinos.  Meanwhile, President Aquino thanked the group for their investment expansion. He also noted that such investments are crucial for the economy to sustain and build on the 6.4 percent GDP growth in the first quarter of the year.

On the other hand, Chalmers expressed confidence in the Philippines and informed the President that they would continue to explore possible projects in other parts of the country, such as Mindanao. He also expressed his support for the President’s good governance initiatives and affirmed that recent successes are taking the Philippines in the right direction.-(Philstar)