Semirara Mining will receive a PHP14bn ($329.27m) loan to finance the construction of two generating units next to its coal plant in Batangas in the Philippines.

The project involves the construction of two coal-fired units of 150MW each, next to the 600MW coal-fired power plant.

The project will be implemented by Semirara Mining’s new subsidiary Southwest Luzon Power Generation.

The syndicated term debt facility was arranged by BDO Capital and Investment, reports