Semirara Mining and Power Corp. (SMPC) is setting aside P6.9 billion for capital expenditures (capex) in 2025, marking a 5 percent increase from projected capex of P6.6 billion last year. A majority of the funds—P5.8 billion—will be directed toward the coal segment, with a focus on re-fleeting initiatives and the acquisition of mining and support equipment. This represents a 23 percent rise from last year’s P4.7 billion coal allocation.
The remaining capex will be invested in maintenance and improvements to SMPC’s power generation assets. Specifically, Sem-Calaca Power Corp. (SCPC) and Southwest Luzon Power Generation Corp. (SLPGC), both subsidiaries of SMPC, will receive reduced funding for 2025, with SCPC’s capex falling 50 percent to P700 million, and SLPGC dropping 20 percent to P400 million.
SMPC continues to make strides in coal exports, setting a new record in 2024 with 16.5 million metric tons (MT) shipped, a 4.4 percent increase from 2023. Exports to China surged by 46 percent, reaching 7.6 million MT. Despite a drop in net income to P15.71 billion for January-September 2024, primarily due to weaker coal prices and higher costs, the company remains a key player in the local power generation market as the only vertically-integrated producer in the Philippines.
