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BusinessWeek MINDANAO
YOUR LOCAL ONLINE BUSINESS PAPER
Issue No. 10, Volume III • August 22-28, 2011
NOW OPEN Market City, Agora
www.businessweekmindanao.com
New coal plant needed to ease power shortage Aboitiz hopes to build 330-megawatt clean-coal power plant to avert possible energy crisis in Mindanao next year
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By Allan Mediante, executive editor
ew sources of electric power are needed to avert a possible economic disaster in Mindanao, according to government and private think tanks, this week. The Department of Energy says hydroelectric power plants, which Mindanao heavily depend on, are no longer enough to meet the needs of businesses and communities. On the other hand, Bobby Orig, first vice president of AboitizPower for Mindanao Affairs, says that to minimize the impact of a power shortfall, Mindanao should avail of a variety of energy sources, which include coalfired power plants. ” This involves creating a right mix of energy sources to ensure that Mindanao will continue to reap its natural resources as a source for power while utilizing non-renewable sources to secure its continued growth,” said Orig.
To m e e t t h i s n e e d , AboitizPower , the holding company for the Aboitiz Group’s investments in power generation, distribution, retail and power services, is proposing the construction of a 300-megawatt (MW) circulating fluidized bed (CFB) coal-fired power plant in southern Davao, which is now under review by the City Council of Davao City. It was learned that Vice Mayor Rodrigo Duterte has expressed support to the PLANT/PAGE 16
Region 10 prepares support infra for Laguindingan airport By Mike Baños
CAGAYAN de Oro City–– Northern Mindanao is doing all possible means to prepare itself for the coming of the Laguindingan Airport, located some 36 kilometers from this city. Already, the Regional Development Council for Re-
gion 10 (RDC-10) endorsed to the national government, during its June 28 full council meeting, the Laguindingan Airport Road Interchange Project as a complementary infrastructure support facility of the new facility. Engr. Jaime H. AIRPORT/PAGE 16
P10.00 Market Indicators
as of 12:10 p.m., AUGUST 19, 2011 (Friday)
FOREX
PHISIX
US$1 = P42.66
4,339.90 points
X Briefly 0.02 cents
X
20.10 points
OPAPP funds
AGUSAN del Sur––The Office of the Presidential Adviser on the Peace Process (OPAPP) has handed over to Gov. Adolph Edward Plaza the amount of P14,216,000, as initial assistance for infra repairs and livelihood projects of 44,000 residents of the most ‘needy’ towns and the city of Bayugan. OPAPP ASec. Howard Cafugauan said, the fund is under the “Payapa at Masaganang Pamayanan” (PAMANA) program, which is different from the usual farm-tomarket road, bridge and livelihood projects of other agencies. PAMANA deals particularly with peace and order challenges in order to get the projects moving. Arjay Serafin Felicilda
Legislators’ move
Governor Alex P. Calingasan signs the BPC joint resolution endorsing privatization and acquisition of the Pulangi lV hydro power complex located in Maramag, Bukidnon. photo by ann noble
Uptown Condotel model units now ready for high-end market viewing By joe palabao
Model units of Cagayan de Oro’s first and finest Uptown Condotel, considered one of a kind in Northern Mindanao, are now ready for high-end market viewing to all domestic buyers, overseas Filipino workers and foreign investors, starting August 17. It is only at Uptown Condotel where one can experience the real pleasure of condominium living since it is located in the clean, green,
and peaceful uptown area of the City. Uptown Condotel is strategically and conveniently located near sports, entertainment and health centers. It is only at Uptown Con-
dotel where investors and unit owners can discover the real treasure of a savvy investment. By buying a unit during the pre-construction phase see full story/PAGE 3
SURIGAO City––The Surigao City Council has approved the upholding of the validity and existence of the contract for lease between the Surigaonon Rural Banking Corporation (SRBC) and the city government on the controversial city boulevard property. The approval came after the joint committee report of Councilor Jose Bayana, chair of the committee on trade, industry and economic enterprise; and Councilor Luceniano Lancin, chair of committee on rules. A supplement and modified terms and conditions have also been submitted for the parties to enter into. Arjay Serafin Felicilda
Social security
BUTUAN City––Engr. Ma. Raine Jamero, SSS branch manager here, said the highlights of the stakeholders’ activities, August 27 this year, will be all counter services, like membership inquiry, SS number issuance, acceptance of claims and loan applications, and data capture operations (UMID ID). SSS will also conduct medical mission to members and their beneficiaries, through medical check-up and issuance of starter dose of medicines. These will be held at the SSS Office, Ground Floor of Rudy Tiu Bldg., AD Curato St. Butuan City. Arjay Serafin Felicilda
LMP prexy visit
August 15 - August 30,2011 An actual view of the Uptown Condotel residential model unit. bwm photo
SURIGAO del Sur––Bacoor Mayor Strike Revilla, president of the League of Municilities of the Philippines, along with 15 mayors of his home province of Cavite, is expected to visit the province of Aug 24-26. Provincial Planning and Development Office Merlyn Baure said Mayor Revilla and company will have some important engagements with their counterpart-mayors on possible developmental partnerships. The group will also tour the scenic spots in the province. Arjay Serafin Felicilda