BusinessWeek Mindanao (August 28, 2017)

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BusinessWeek MINDANAO

YOUR Mindanao-wide BUSINESS paper

CREDIBLE

Volume VIII, No. 35

Market Indicators

As of 5:30 pm August 26, 2017 (saturday)

FOREX

PHISIX

US$1 = P51.095

8,015.14

4.5 cents

X

10.21 points

Briefly

X

Revitalizing RE SURIGAO City -- The inauguration of the first Filipino-owned solar panel facility in Batangas held on Wednesday is a testament to the government’s progress in revitalizing the local renewable energy (RE) industry for the benefit of consumers and the economy, according to Department of Energy (DOE) Secretary Alfonso G. Cusi. “Investments in RE facilities and technologies can create more jobs,” Cusi said at the event graced by President Rodrigo Duterte. “We can also take pride in trading Filipino-made energy technologies, while also developing Filipino expertise in RE technologies. The RE investment also empowers consumers through more affordable and sustainable energy use,” Cusi added. “The solar panel facility and similar investments on solar energy will support the implementation of vital renewable energy policies. This includes the net-metering program, which encourages consumers to become ‘prosumers’. This is done by the installation of solar rooftop systems in their properties and enable consumers to produce their own energy. In the end, it results to energy efficiency and savings on power cost,” Cusi underscored.

RELIABLE

Alsons eyes P15.3-B coal plant in Zambo www.businessweekmindanao.com

P15.00

Monday | August 28, 2017

By ANTONIO L. COLINA IV, MindaNews

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AVA O C i t y - Mindanao-based Alc antara Group of Companies will pour i n s om e P 1 5 . 3 bi l l i on for the construction of a 105-megawatt coal-fired power plant in Talisayan, Zamboanga City in 2020.

Alcantara Group president Nicasio I. Alcantara told reporters Friday that this would be the firm’s third coal project in Mindanao but under its new wholly owned subsidiary San Ramon Power, Inc. (SRPI). He said the firm earlier invested in two coal plants under Sarangani Energy Corporation (SEC) with a combined alsons/PAGE 15

JOYRIDE. Riders freak out on the Viking Pirate ride at the carnival in Cagayan de Oro as the city celebrates the Higalaay Festival as the parochial fiesta, in honor of St. Augustine, approaches. mindanews photo by froilan gallardo

JICA assessment of Davao infrastructure due October By CARMELITO Q. FRANCISCO, Correspondent

Slower biz confidence BUSINESS confidence in the Philippines slowed down in the third quarter of 2017 due to seasonal factors caused by the rainy season, and concerns on fighting in Marawi City. Data released by the Bangko Sentral ng Pilipinas (BSP) Friday showed that results of the Business Expectations Survey (BES) for the third quarter of 2017 registered an index of 37.9 percent from 43 percent in the previous quarter. Year-ago index is 45.4 percent. Other reasons cited by the respondents are declaration of Martial Law in Mindanao last May 23 following the fighting between government troopers and members of the terrorist Maute Group, peso weakness, rising prices of domestic commodities, stiffer competition, and damages and power outages after an earthquake hit the Visayas last July 6.

IN-DEPTH

HERO’S WELCOME. Crowned Miss Philippines-Fire 2017 Nellza Mortola Bautista dances with local dance group Tribu Kaadlawan as she arrived at her hometown in Villanueva, Misamis Oriental on Friday. Bautista was accorded a hero’s welcome by the local government of Villanueva under Mayor Jennie Rosalie T. Uy. photo by gerry lee gorit

DAVAO City — A team funded by the Japan International Cooperation Agency (JICA) is set to present within the next two months its initial report on the gaps of the proposed infrastructure projects in this city. Venetia Lynn M. Sison, a member of the team, said the report will contain the

evaluation of the team on the key proposed projects, including those that are set to be implemented. “We have integrated all the projects that we have come across,” said Ms. Sison, adding that even proposed projects that have been shelved, like the proposed but eventually canceled P39-

billion reclamation project of the Mega Harbour Port and Development, Inc. Mayor Sara Z. DuterteCarpio canceled the memorandum of agreement that her father, President Rodrigo R. Duterte, signed with Mega Harbour on the last day of his term as mayor. In assessing the projects, Ken Kumazawa, JICA team jica/PAGE 15

P25-B Azuela Cove to rise in Davao By ANTONIO L. COLINA IV, MindaNews

DAVAO City — The Aviana Development Corporation, a joint venture partnership between real estate giant Ayala Land and homegrown The Alcantara Group of Companies, will invest P20 billion for the development of Azuela Cove, a 25-hectare waterside development in Davao City, that would generate 13,000 jobs during

its construction period. In a media briefing Friday, Ayala Land assistant vice president Enrique Manuel Jr. said the construction of the Azuela Cove will help further “boost the growth of the local economy, serve as a steward of Davao’s environment, and ultimately enrich the lives of more Dabawenyos.” “Azuela Cove will be a

new master-planned estate, unlike any that we have designed before. It will offer the residents and visitors of Davao, a unique waterside experience, in a naturally beautiful setting enhanced by world-class design,” he said. Azuela Cove is where the Alcantara family’s plywood manufacturing plant once stood. cove/PAGE 15

AZUELA COVE. President Rodrigo Roa Duterte leads the unveiling of Azuela Cove’s master plan during its launching in Lanang, Davao City last week. Assisting the President are Ayala Land Inc. Chairman Fernando Zobel de Ayala and Alsons Corporation Director Editha Alcantara. Also in the photo is Executive Secretary Salvador Medialdea. rene lumawag/presidential photo

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