Semirara Mining & Power Corp. (SMPC) plans to invest $5 billion to expand its mines, according to Bloomberg. The company has proposed a 5-year spending plan that includes capital expenditures, production costs, and operating expenses.
SMPC is the largest coal producer in the Philippines, and the only power producer in the country that owns and mines its own fuel. Through its power subsidiaries, SEM-Calaca Power Corp. and Southwest Luzon Power Generation Corp., it has an installed capacity of 900 MW, with around 700 MW more in the pipeline.
The company also exports coal to China, South Korea and Brunei.
