China conveys support for Agus-Pulangi rehab
China has expressed support for the government’s plan to rehabilitate the Agus-Pulangi hydroelectric power plant complex, the Finance department said on Sunday.
In a statement, the department said the rehabilitation was one of the projects discussed during a high-level bilateral meeting in Beijing last week.
Finance Secretary Carlos Dominguez 3rd, in particular, underscored a possible parallel financing arrangement between China and the World Bank for the project.
The department quoted Dominguez as saying that rehabilitating the Agus-Pulangi facility was “a very important project” that the Philippines wanted to fast-track.
Chinese Commerce Minister Zhong Shan, for his part, was quoted as saying that his ministry was “supportive” of the proposal.
The Finance department wants China to fund the rehabilitation project, which it said would cost around P54 billion.
Dominguez has said that the rehabilitation of the five Agus-Pulangi hydropower facilities in Lanao del Norte and Bukidnon provinces would be done in phases.
The plants, supposed to generate a combined 900 megawatts, are currently operating at 60 percent of their capacities.
The Agus 6 plant would be rehabilitated first, as it is the oldest and has the biggest output.
Once repaired, Agus-Pulangi is expected to generate more than 1,000 megawatts.
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