Kepco keen on more energy projects in RP
Business World, May 6, 2004
CEBU CITY - The Korea Electric Power Corp. (Kepco) is committed to the Philippine energy sector even as the company proposed to build a 200-megawatt merchant power plant in Cebu
Kepco officials signed a memorandum of agreement on the project with the Cebu City government officials yesterday afternoon.
Kepco Phils. Corp. President Lee Gil-gu said new Kepco Chairman and Chief Executive Han Joon-Ho is keen on exploring other possible area for Philippine-South Korean cooperation in energy development.
"Chair Han's visit shows the important of the Philippines to Kepco's global involvement and confidence in the prospects for economic growth in this country," Mr. Lee said.
Mr. Han yesterday met with President Arroyo in a closed-door meeting.
Mr. Lee said Mr. Han's visit also underscores the company's support for Philippine community development in addition to a rural electrification program being implemented in the Visayas area.
Mr. Han, who recently took the helm as the head of South Korea 's biggest energy company, arrived in the Philippines last week to meet with key government and business leaders.
Kepco is the largest Korean firm investor in the Philippines . It operates the $700-million, 1,200-megawatt Ilijan natural gas power plant in Batangas, recently cited as one of the best 12 power plants in the world by Power magazine.
It is also currently operating the 650-MW Malaysia ThermalPowerPlant in Pililia, Rizal.
Mrs. Arroyo, in her state visit to Seoul last year, witnessed the signing of an agreement whereby Kepco would build a $150-million, 100-megawatt coal powered plant in the town of Antique this year, underscoring government efforts to reduce costs in the Visayas area.
CEBU AS TOURIST CENTER Meanwhile, Cebu's business leaders asked the president to declare Cebu as a tourism development center.
Robert Go, president of the Cebu Chamber of Commerce and Industry, said the president was amenable to the proposal but said this would require congressional approval. He said they plan to ask a Cebuano congressman to push for the move in Congress.
Mr. Go, together with the chamber's immediate past president in Malacanang last Friday dawn. They were scheduled to have a dinner meeting last Thursday evening but the president met them the following day. - Jun P. Tagalog
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