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Byline: Amy R. Remo
STATE-OWNED PHILIPPINE NATION-al Oil Co. (PNOC) hopes to complete by next month negotiations with a consortium led by investors from Italy and Abu Dhabi for the construction of the $1.2-billion Batangas-Manila (Batman 1) natural gas pipeline.
This will allow PNOC to conduct a Swiss challenge for the unsolicited proposal it will receive from the consortium composed of Sultan International Holdings, based in Abu Dhabi, local firm Abacus Consolidated Resources and Holdings, and Saipem ENI of Italy.
According to PNOC president Antonio Cailao, negotiations are still ongoing as the committee formed by PNOC continues to process the proposal of …