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Maibarara moves to secure permits for plant

October 12, 2011

Maibarara Geothermal, Inc. signed an agreement with the Department of Environment and Natural Resources (DENR) to monitor environmental compliance for the P3.22-billion project in Laguna and Batangas, PetroEnergy Resources Corp., one of the firm’s stockholders said.

The deal will “establish an environmental monitoring fund, multi-partite monitoring team and environmental guarantee fund” that will look into the compliance of the facility with environmental standards.

The monitoring team will be composed of authorized representatives from the DENR, Maibarara Geothermal, Laguna Lake Development Authority, provincial governments of Laguna and Batangas and local government units, PetroEnergy Resources said in the disclsoure.

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