WESTERN Mindanao Power Corp. (WMPC) and Crowninvestment Holdings Inc., the investor-manager of Zamboanga City Electric Cooperative (Zamcelco), have reached another compromise to ensure stable electricity supply in the area.
In a statement on Wednesday, Crowninvestment Holdings said under the new agreement, Zamcelco will give WMPC, an entity under the umbrella of Alsons Power Group, a partial payment of P150 million, and pay an additional P80 million in security deposit.
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