Philippine food firm URC prepares for power generation

From food to power generation.

Universal Robina Corporation, one of the Philippines' top consumer food groups, is diversifying into the power generation business.

The firm said its board of directors has approved the amendment of its secondary purpose in its Articles of Incorporation in order to include the new business.

“This is in relation to a proposed 40 megawatt biomass project to be undertaken at one of the Corporation’s sugar mill plant site,” URC corporate Secretary Rosalinda Rivera said.

She added that the amendment will be presented to URC’s shareholders for approval at a meeting to be called for this purpose.

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