DMCI Power Corp., a unit of DMCI, was supposed to manage the project using at least PHP10 billion obtained from bank and equity borrowings to finance its power projects in the Visayas and Masbate.
The local government sectors and the Roman Catholic Church strongly objected to the project taking a pro-environment stand.
The Masbate provincial legislative board stated that the building and functioning of the coal station was hazardous to the environment and health of residents.
Socrates Tuason, city mayor, alleged that the proposed plant would negatively impact the city’s fish sanctuary.
DMCI has decided to construct a diesel-fed power plant in its place, which will become operational in June 2009.
