Coal to Liquids deal expected by next December

Known as Ikaegeng XTL, the ambitious project aims to tap into billions of tonnes of coal lying untapped in the country, with technology applied to produce various petroleum products for domestic use. Previous estimates indicated that the project could cost $2.5 billion (P31.4 billion).

BOL spokesperson, Matida Mmipi told BusinessWeek that Requests for Proposals (RFP) were due to be floated in the market by the end of next month seeking private partners to participate in the project.