Manila to Raise $373 Mln from Geothermal Stake

Manila, Philippines [Reuters] The Philippine government will raise 17.1 billion pesos ($373 million) from selling a 20 percent stake in geothermal group PNOC-Energy Development Corp (EDC.PS: Quote, Profile , Research), helping it plug a hole in its tax revenues. PNOC-Energy Development, which generates power from volcanic springs.

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