BusinessWeek Mindanao (March 24, 2015)

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BusinessWeek MINDANAO

/MenchuAntigua-Macapagal

Your daily business paper

WEEKDAYS 1PM

2013 ppi’S Best in Business and Economic Reporting

Volume V, No. 128

Market Indicators

As of 6:14 pm Mar. 23, 2015 (monday)

FOREX

PHISIX

US$1 = P44.79

7,840.49 points

2 cents

X X Briefly 22.11 points

Fire protection fund AS part of the national government’s commitment to ensure security and the rule of law in areas of the country that need essential government services, the Department of Budget and Management (DBM) has approved the release of P199 million to the Bureau of Fire Protection (BFP) in the Autonomous Region for Muslim Mindanao (ARMM) for the procurement of 33 fire trucks. This release coincides with the designation of the month of March as Fire Prevention Month, and is part of the P22.47-billion Supplemental Budget passed last December 2014. Aside from being part of the ARMM Transition Investment Support Plan (TISP), the amount of P199 million also supplements the BFP’s P8-billion budget in the FY 2015 General Appropriations Act (GAA).

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New coal plant to synch with grid by Holy Week

M

By IRENE DAYO, Staff Writer

INDANAO power consumers may not worry of lack of electricity this summer as AboitizPower subsidiary Therma South Inc., which is constructing 300-MW thermal power plant in southern Davao City, is scheduled to synchronize with the Mindanao grid by Holy Week, taking one step closer to full commercial operations.

With its steam blowing operations for the first of two 150-MW units completed, the power plant is expected to start its reliability run the in the first half of April. During the tests, the power plant can deliver power

to the grid, which can be availed of by Therma South customers. Full commercial op erat ions of t he f irst unit will start after the reliability test is successfully completed. The second 150-

MW is also on track to meet its scheduled commercial operations timeline. “We are happy to announce that our customers should be able to start receiving power from Therma South

by April on a scaled basis as we continue our tests,” Therma South president and COO Benjamin A. Cariaso Jr., said. “The timing could not have been better as the

coming summer months are expected to affect the power output of Mindanao’s hydro power plants. Therma South will be able to assist our customers to cope with the coal/PAGE 11

COAL PLANT. A ship docks at the unloading pier, one of several ships that delivered coal to Thema South in the past three months.

Eco-tourism zone soon to be declared in Misor By MARK FRANCISCO

Barangay Day THE conduct of the Barangay Assembly for the First Semester of CY 2015 is set on March 28. Per Department of the Interior and Local Government (DILG) Memorandum Circular (MC) No. 2015-24, the city and municipal mayors are enjoined to ensure compliance and maximum participation of all barangays in the conduct of the barangay assembly, and to post/hang posters or banners in conspicuous places to promote public awareness. During the Barangay Assembly, barangay officials are expected to deliver their State of Barangay Address (SOBA), discuss the compliance to Barangay Full Disclosure Policy (BFDP) and other issues/ concerns affecting the barangay.

P15.00

Tuesday | March 24, 2015

IF plans don’t miscarry, a new resort at par with the likes of City of Dreams or Resorts World Manila will soon rise near the vicinity of the Laguindingan airport in Misamis Oriental.

According to Tourism Infrastructure Enterprises Zone Authority (Tieza) chief operations officer Mark Lapid, plans are now underway for a piece of property in the area misor/PAGE 11

Coops urged to bid for hydropower plants By CARMELITO Q. FRANCISCO, Correspondent

MAMANWA BARRICADE. Around 400 Mamanwas set up barricades outside the offices of Greenstone Resources Corporation in Barangay Cawilan, Tubod town in Surigao del Norte. As they entered their third day at the picket line on Thursday, the Mamanwas claim they are protesting the mining firm’s nonpayment of the one-percent royalty share to the tribe. mindanews photo by roel n . catoto

DAVAO City -- Electric cooperatives in Mindanao, which have a combined paid-up capital of more than P14 billion, are being urged to consolidate and make a bid for the Agus-Pulangi hydroelectric facilities, which are scheduled for privatization within the next two years.

The Mindanao Development Authority (MinDA) said the creation of an umbrella cooperative to run the power complexes that supply more than half of Mindanao’s power demand will ensure that the power industry ownership will be plants/PAGE 11

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