Korean firm to invest $400M in power project

MANILA, Philippines - Korean firm Advanced Management Development Association (AMDA) is looking at investing $400 million for an underwater cable that will allow the Leyte Geothermal Plant to supply power in the Visayas and Mindanao.

In an interview with reporters, Trade and Industry Undersecretary Cristino L. Panlilio said that the AMDA would like to build an underwater cable that will connect the Visayas and Mindanao power grid with the Leyte Geothermal Power Plant.

At the same time, Panlilio said another underwater cable may be placed to channel power from Batangas to Mindanao.

Panlilio said he has already met with AMDA managing director Hyung soo Kim. He noted that the potential investment was facilitated by business and consulting firm ZMG Ward Howell. Panlilio said the company is expected to consult with National Grid Corp. of the Philippines if it decides to proceed with its plan.

At the same time, another Korean firm Advanced New Technology 21 (ANT) would like to partner with Maynilad and other Philippine water concessionaires for a possible investment in water filtration and sewerage treatment facility.

Panlilio noted that with its in-depth experiences in research and on-site consulting, ANT21 has accumulated know-how in environmental technologies, especially in water treatment technology.

ANT21’s goal is to solve environmental problems using its accumulated know-how and to provide economic profits for businesses and agreeable environment for people.