MGen earmarks P1B for Toledo coal plant development

MANILA, Philippines — The power generation arm of Manila Electric Co. (Meralco) has earmarked P1 billion this year to develop its planned coal-fired power plant in Toledo, Cebu, as the project takes priority in the company’s capital spending program. Emmanuel Rubio, president and chief executive officer of Meralco PowerGen Corp. (MGen), said most of the company’s