MANILA, Philippines - Trans-Asia Oil and Energy Development Corp. has bought out its joint venture partner for a power plant project in Bulacan.

"[The firm] signed today a Share Purchase Agreement for the purchase by Trans-Asia of Holcim's (Holcim Philippines, Inc.) 50% stake in Trans-Asia Power Generation Corp.," read a disclosure dated Jan. 1.

Trans-Asia, however, did not disclose the amount involved in the transaction.

Trans-Asia Power Generation Corp., a joint venture between the two parties, owns and operates a 52-megawatt power plant located in Norzagaray, Bulacan.