10 months Semirara Mining earnings down 26% Manilatimes |Biz
SEMIRARA Mining and Power Corp. saw its first-half consolidated net income after tax plummet by 26 percent to P6 billion from P8.13 billion in the same period in 2018. In a disclosure on Tuesday, the integrated energy company said Unit 1 of Sem-Calaca Power Corp. (SCPC) was offline from January to June because of the life extension project. The listed firm had embarked on a three-year life extension program that would boost the generation capacity of SCPC’s Unit 1 by 50 megawatts (MW) to 70 MW using 100-percent Semirara coal. It would also extend the life of the power units ... more