K-Water to take over of AHEPP by September

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.

But it was stalled by a petition before the Supreme Court which affirmed K-Water’s winning bid last year after it secured partnership with the group of Ramon Ang of the San Miguel Corporation.  Dino Balabo

Koreans to P10-B in investments in Bulacan

PANDI, Bulacan—The engines of growth continues to roar and attract investors in this province.

This came after Mayor Enrico Roque of this town and current president of the League of Municipalities-Bulacan Chapter, managed to secure a P10-billion worth of investments from Korean businessmen who expressed trust and confidence to the leadership of the young local executive and to the booming progress now being experienced in Bulacan.

Roque said that the Korean investors will soon open business not only in this booming town but in other towns of Bulacan as well.

“Nakita ng mga Korean investors ang strategic location ng Bulacan para sa mga industriya at negosyong kanilang itatayo sa ating lalawigan,” Roque said adding that aside from its proximity to Manila, Bulacan is “sandwiched” by two international airports, the Ninoy Aquino International Airport in Manila and the Clark International Airport in Angeles City, Pampanga.

Roque said that the Korean investors are planning to build commercial establishments in some towns that has no malls.

In the said P10-billion investment, its include an Outlet Store wherein 400 imported brands from different countries such as Prada, Coach, Ferragamo, Tods  to be constructed in a 15 hectares land area in Bulacan and first outlet store in the Philippines.

He also said that local investors like Savemore, Puregold, Mercury Drugs, leading fastfood chains like Jollibee, Mc Donalds and other companies are now also on the process of establishing branches in some Bulacan towns.

“Nagiging magnet na ng investments at dumadagsa na sa Bulacan ang mga foreign at local investors dahil sa patuloy na pagyabong nito na bunga ng magandang pamamahala ng ating mga provincial leaders sa pangunguna ni Gov. Willy Alvarado at nang mga masisipag na alkalde ng Bulacan,” Roque said.

Roque who has transformed Pandi from a farming town  into an eco-tourism hub, said that more investors are expected to come especially now that the Philippine Arena, touted as the biggest indoor arena in the world has been opened recently.

“The door for the bright future of our province has been opened. With world class facilities and easy road network access, the investment climate in Bulacan is definitely on the rise. Many towns will experience a surge in economic boom because of the influx of local and foreign investors like our Korean friends,” Roque said.

It is no wonder why Mayor Roque can attract this kind of investors because the young local executive is a multi-awarded business manager who was among the top outstanding young businessman in the country and even in Asia.