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ILIGAN CITY – The investment arm of the Taiwanese government in collaboration with a big investment firm in Taiwan plans to build a 12-megawatt hydroelectric plant in Iligan City, it was learned from a presentation they made before the Sangguniang Panlungsod (SP) of Iligan recently.

According to the proponent the project will cost US$51 Million and would be completed in 3 years.

It was said that it will use a Low Head Modular Turbine Generator to be built downstream of the existing Agus VII Power Plant and will be called Agus VIII.

As presented, the project will create additional employment opportunities for Iligan during the construction and operation period.

It will also increase economic activities through local suppliers and workers on a day-to-day consumption.

It will increase power supply without any pollution and help boost the stability of power supply in the locality.

The project is envisioned to operate for 25 years after completion.

SP Committee on Energy Chairman Councilor Ariel P. Anghay introduced the group as OIDC FTP.

OIDC is said to be the Investment arm of the Taiwanese government.

It is also known to be an EPC Contractor of Taiwan-Funded projects in Central America, Africa, the Caribbean Islands and the Asia Pacific Region.

Listed as the major stockholders of OIDC are: China Trust Commercial Bank, International Cooperation and Development Fund, Chinese Petroleum Corporation, China Steel Corporation, Mega International Commercial Bank, Shinkong Synthetic Fibers Corporation, Tai-Ho Investment Co., Ltd (Pacific Electric Wire Group), China Petrochemical Development Corporation, China Development Industrial Bank, BES Engineering Group, Goldsun Development & Construction Co., Chia Hsin Cement Corportion, Yuan Ding Investment Corporation (Far East Group) Tai Yuen Textile Company Ltd., Tung Ho Steel Enterprise Corporation, President Enterprise Corporation, Nica Eastern Development, Inc. (Fu Tsu Group), Mitac International Corporation, Tai Lung Corporation, Holmsgreen Holdings Co., Ltd., and Yuan Foong Yu Investment Company, Ltd.

On the other hand FTP stands for Fu Tai Philippines, a subsidiary of Fu Tai Engineering Group, a leading EPC Contractor in Taiwan that started as China Flour in 1969.

It is said to be a construction specialist in Oil and Gas, Petrochem Power Plants and Industrial Plants with over 500 in-house engineers.

It boasts of having completed over 2,000 projects throughout its area of operation around the world.

Also involved in the project is Hydro China, a subsidiary of Power China Group that has existed since 1949, as the Water Resources and Hydropower Institute of Ministry of Electric Power Industry of Taiwan.

Hydro China specializes in Renewable Energy Projects like Hydropower, Wind Power and Solar Power.

It has completed over 170 hydropower plants in 12 countries. RANAO STAR

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