MPIC readies proposal for building LNG facility

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Metro Pacific Chairman Manuel V. Pangilinan talks to media at the company's stockholders meeting in this file photo taken in 2009. — BW FILE PHOTO

Metro Pacific Investments Corp. (MPIC) has joined local and foreign companies that have signified their intention to build an integrated liquefied natural gas (LNG) facility as it plans to come up with its own proposal, its chairman said.

MPIC Chairman Manuel V. Pangilinan told reporters the group has undergone initial studies for the project although details have yet to be firmed up as far as the capacity of the LNG terminal as well as whether the project will have a power plant component.

Asked about when the proposal will be ready, he said: “Within the year.”

He said the entity that he expects to handle the project will be MPIC in coordination with other entities. — Victor V. Saulon