Chinese companies to invest in P155-B energy complex to rise in Batangas

03-May-19

Chinese companies plan to invest in refinery, oil and natural gas port, and power plant in Batangas City village, as per Business inquirer. Three Chinese state-owned companies have agreed to develop a 102-hectare property into an energy complex in the coastal village of Simlong in Batangas City. The memorandums of understanding (MOUs) for the $3-billion (P155.24-billion) investment in Batangas province were signed during President Rodrigo Duterte’s visit to Beijing. Simlong Energy Development Corp. signed the MOUs with China Gezhouba Group Co. Ltd. (CGGC), China Petroleum Pipeline Engineering Co. Ltd. (CPP) and the China Harbour Engineering Corp. (CHEC). Land preparation would begin in June, paving the way for a project in three phases, which would be completed before 2022.

The first phase is for the construction of a refinery for naphtha. The second phase involves the construction of an energy port for oil, natural gas and liquefied natural gas (LNG), and the final phase, the construction of a 1,560-megawatt power plant to energize the complex and supplement the national grid. CPP is tapped for the construction of the refinery and storage tanks, and CHEC, for the port facilities, and oil and gas terminals.