Mindanao's first-ever coal-fired power plant was recently inaugurated
Monday, January 30, 2006
German Ambassador to the Philippines Dr. Axel Weishaupt led national and foreign dignitaries during the boiler pressure test ceremony of the 210-MW Mindanao Coal-Fired Power Plant Project held at the PHIVIDEC Industrial Estate in Villanueva, Misamis Oriental.
The project is considered as Northern Mindanao's biggest single foreign direct investment in 10 years with a staggering cost of US$ 305 million.Aside from providing employment to some 3,000 local workers mostly coming from host communities, the project will improve the regional economic performance as well as boost the region's image as one of the preferred investment destinations in Mindanao.
Meanwhile, customs revenue collections also increased during the first 10 months of 2005 primarily due to in-bound shipments of equipment installed at the power plant project.Bureau of Customs (BOC) District Collector Roberto Sacramento said actual collection from January to October 2005 amounted to about P2.1 billion, higher by P1.047 billion compared to the same period last year."The unprecedented increase of about 95 percent in our revenue was primarily attributed to the in-bound shipments of equipment for the power plant project at PHIVIDEC and the strengthening of the local currency," Sacramento explained.
Under the Philippine Energy Plan 2005-2014, existing power producers in Mindanao will not be able to meet the fast-growing electricity demand for the island.The 210 MW Mindanao Coal-Fired Power Plant project is set to meet the challenge of attaining stability in the supply of electricity in the region and avert a potential power shortage in the island.Once fully operational by the end of 2006, the power plant will supply additional electricity to the Mindanao grid, representing about 15 percent of the island's total power demand.
Mindful of its strong commitment to protect the environment and ensure sustainable development, SPI has established environmental protection and social development programs, in coordination with local government units and other organizations.
Since construction began in December 2003, more than P15 million worth of social development and environmental protection programs have been implemented in the host communities of Villanueva and Tagoloan.SPI president Andreas Rubin said the company will continue these initiatives as part of its continuing commitment to ensure environmental protection as well improve quality of lives of the people living within the vicinity of the power plant project."We are not only here to provide reliable, efficient and environmentally compatible power supply to Mindanao, but also to help ensure a brighter future for the local people," Rubin concluded.
posted by philpower @ 7:57 AM,
