Danessa Rivera (The Philippine Star)
- April 8, 2019 - 12:00am
MANILA, Philippines — Manila
Electric Co. (Meralco) and its partners expect a total investment of over P6
billion for the entire 25-year power distribution services in New Clark City in
Tarlac.
Meralco said the total estimated
amount of investment for 25 years is seen to reach P6.3 billion.
This covers the financing, design
and engineering, establishment, construction, development and operation and
maintenance of the electric power distribution system in New Clark City for an
initial period of 25 years, renewable for another 25 years.
The amount is subject to the capital
expenditure (capex) approval of the Energy Regulatory Commission (ERC).
Earlier, Meralco senior vice
president Rogelio Singson said the consortium is looking to spend around P1
billion to put up the initial facilities in New Clark City.
The initial phase will involve
overhead distribution lines to serve the Southeast Asian Games in November.
Last week, the consortium composed
of Meralco, Marubeni Corp., The Kansai Electric Power Co. Inc. and Chubu
Electric Power Co. Inc. signed a joint venture agreement with the Bases
Conversion and Development Authority.
Meralco will own a 60 percent equity
stake in the consortium, Marubeni with 20 percent, Kansai Electric Power and
Chubu Electric Power with 10 percent each.
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