MALOLOS CITY—Privatization of the Angat Hydroelectric Power Plant (Ahepp) continue even after the lapse of 270 days given to Korea Water Resources Corporation (K-Water) last month to take over its operations.
Engineer Rodolfo German, general manager of the Ahepp said that new target date for K-Water’s take over is September 1.
The same was affirmed by Gladys Cruz-Sta. Rita, the president and Chief Executive Officer (CEO) of the National Power Corporation (Napocor) which manages the Angat Dam and its power plant.
Citing advice from the Power Sector Assets and Liabilities Management (Psalm) Corporation, Sta. Rita said privatization will push through.
She also confirmed German’s statement that turn-over of Ahepp facilities to K-Water will be on September 1.
To prove veracity of said information, Sta. Rita even said that she already signed separation documents of at least 57 employees of the Napocor at the Ahepp.
The planned turn-over came after the 270 days given by Psalm to K-Water lapsed.
But even before it lapsed, Napocor officials like German expressed confidence that it will be extended.
Psalm announced last year that turn-over was December 2013, but it was push until the end of January this year.
It was followed by further delays after the turn-over failed last March, April and May.
Some of the reasons for delays include acquisition of business permit from the municipal government of Norzagaray which demanded payment of unpaid real property tax.
However, some local officials like Governor Wilhelmino Alvarado intervened and asked the mayor of Norzagaray to give K-water some slack.
The governor even argued that previous will surely be paid as K-Water will not run away from it.
Earlier this year, sources said that turn over to K-Water is delayed due to failure to secure some documents from the Bangko Sentral ng Pilipinas.
Records showed that K-Water won the bidding for the privatization of Ahepp when it offered over $440-Million.