Meralco unit steps back from direct bid for Antique coal site

Meralco unit steps back from direct bid for Antique coal site

The power generation unit of Manila Electric Co. (Meralco) is stepping back from the direct bidding process for a prized coal concession in Antique province. Emmanuel V. Rubio, Meralco PowerGen Corp. president, said they will instead wait for the Consunji family’s mining unit to secure the contract before potentially buying a minority stake.MGen is holding ongoing talks with the Consunji family regarding a partnership for coal production, accord…