The power unit of Ayala Corp. and its partner, Power Partners Ltd. Co. (PPLC), have signed an engineering, procurement and construction (EPC) contract with Shanghai Electric Power Construction Co. (SEPCC) for the development of a $1-billion thermal facility in Mindanao.
A disclosure to the Philippine Stock Exchange showed on Wednesday that GNPower Kauswagan Ltd. Co. (GNPK) has assigned SEPCC, a subsidiary of Power Construction Corp. of China, as the EPC contractor for the 552-megawatt thermal plant in Kauswagan, Lanao Del Norte.
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