Philippines Aboitiz Equity Gets Tax Breaks For Power Proj
Wednesday, January 04, 2006
MANILA (Dow Jones)--The Philippines' Board of Investments granted a six-year income tax holidays and other fiscal perks to the power generation project of a unit of Aboitiz Equity Ventures Inc. (AEV.PH).
BOI said Tuesday that Aboitiz's unit Hedcor Sibulan Inc. plans to put up two hydroelectric power plants with a total capacity of 42 megawatts that will supply electricity to Davao Light & Power Co., a power distribution unit of Aboitiz.
Power generation projects that use renewable energy sources automatically get longer tax breaks than the usual four years.
Hedcor will invest around PHP4.03 billion ($76.5 million) in the power project, which will employ 40 people. -By Cris Larano, Dow Jones Newswires; 632-848-5051; cris.larano@dowjones.com
-Edited by Marissa Chew
posted by philpower @ 11:08 PM,
