A BROWN Co. Inc. (ABCI) on Friday announced that one of its power generation units, Vires Energy Corp. (VEC), will no longer proceed with its plan to build a liquefied natural gas (LNG) terminal and regasification facility in Batangas.
In a disclosure to the Philippine Stock Exchange on the same day, ABCI said it has informed the Department of Energy of VEC's withdrawal of a Notice to Proceed, issued in 2021, to build an LNG facility in Barangay Simlong, Batangas City.
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