Market Chatter: US Backs LNG, Nuclear Projects in Philippines
The US Trade and Development Agency (USTDA) is working with the Philippine government and local companies to support liquefied natural gas and nuclear projects in the country to improve power generation and transmission, Bloomberg reported Saturday, citing an interview with USTDA head Thomas Hardy.The agency is working with Philippine-based companies like San Miguel Corp. (PSE:SMC) and Manila Electric Co. (PSE:MER) to lower electricity costs and attract investments.The involved parties are working on attracting investments into the Luzon Economic Corridor, an infrastructure and investment project in the Philippines backed by the US and Japan, Hardy said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
