|
A COMPANY planning a multi-billion peso investment in the power
sector has secured tax incentives and other perks from the Board of
Investments (BOI).
In its application for fiscal incentives, Global
Business Power Corporation., formerly Mirant Global Corp., said it
is investing over P21 billion for the construction of coal-fired
power plants in Toledo, Cebu.
The project involves greenfield construction of
four power plants with 82 megawatts each.
The generating company is 50-percent
Filipino-owned, and its major stakeholders include Areta Ventures
Ltd., British Virgin Islands Corp., First Metro Investments Corp.
and Global Business Corp. Holdings.
The power plants will use circulating fluidized
bed technology, which is clean and environment-friendly.
The company plans to start commercial operations
in December 2010, and expects to hire 110 workers.
According to Global Business, it will charge
rates that are cheaper than state-owned National Power Corp.
-- Katrina Mennen A. Valdez
|
