Abstract:
Loan 2181-PH to the Philippine National Oil Company (PNOC) for the Coal Exploration Project, in the amount of US$17.0 million, was signed on September 18, 1982 and became effective on May 9, 1983. Since the initial exploration stages did not indicate the existence of major coal-bearing areas amenable to open-pit mining, the Government requested in January 1985, an amendment to the loan agreement modifying the project scope and reducing the loan amount from US$17.0 million to US$10.0 million. The loan was closed on December 3i, 1986, with a total disbursem at of US$6.56 million, and the undisbursed balance of US$3.44 million was cancelled. The main objectives of the project were: (a) to provide geological data for two coal-bearing areas (Samar and Eastern Mindanao) with apparent development potential, and thus contribute to expansion of domestic coal supply; (b) to contribute to the accelerated development of coal supply through detailed exploration of a known coal field (Lalat area of Southwestern Mindanao); and (c) to strengthen the technical capability of the implementing agency, Philippine National Oil Company-Coal Corporation (PNOC-CC).
Info
| Source Institution | World Bank |
| Source URL | http://www-wds.worldbank.org/servlet/WDSContentServer/IW3P/IB/1987/09/29/000009265_3960925140656/Rendered/PDF/multi_page.pdf |
| Page Count | 18 |
| Place of Publication | Pasig City |
| Original Publication Date | September 29, 1987 |
| Tags | Coal, Exploration Project, Project Completion Report, Report |