PETRON Corp., the country’s largest oil refining and marketing company, said it has executed the definitive agreements with SMC PowerGen Inc. for the reacquisition and purchase of the latter’s 140-megawatt (MW) solid fuel-fired power plant located in Petron’s Bataan Refinery.
“The purchase of the power plant would lower the power and steam costs of the Petron Bataan Refinery,” the company said in a disclosure to the Philippine Stock Exchange (PSE) on Friday.
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