Belgium seen to boost power industry

The Philippines is optimistic that Belgium will play a major role in boosting the Philippine energy and power industry after a top Belgian utility holding company won the bid to develop the Calaca power plant in Batangas.

The Philippine Embassy in Belgium welcomed Suez-Tractebel SA’s entry into the Philippine investment scene to develop the Calaca power plant

Suez-Tractebel SA, one of the world’s top independent power producers with operations in more than 100 countries in five continents, won the bid through its wholly owned subsidiary, Calaca Holdco Inc. (CHI), in an auction held last Oct. 16.

Philippine Ambassador to Belgium Cristina Ortega cited President Arroyo’s comprehensive economic program for sustainable development for the renewed investor confidence in the country.

Ortega said the success of this economic program shows clearly in the excellent performance of the Philippine stock market, stronger peso and the 7.5 percent GDP growth in the second quarter.