Wednesday, September 26, 2007 Power project to boost DavSur town's economy By Joy Romares-Sevilla
SOME P6 billion of investments were poured in by Hydroelectric Corp. (Hedcor), an Aboitiz Company, for the establishment of a hydropower plant in Sibulan, Sta. Cruz, Davao del Sur.
Sta.Cruz Mayor Joel Ray Lopez said in a press conference at the PIA office Tuesday that the project could be a competitive advantage for the town and serve to attract more investors.
"The plant's capacity is 40 to 42 megawatts. It's more than the need of all municipalities in Davao del Sur. We learned that only a 36-megawatt power is needed to supply the entire province," Lopez said.
The town mayor said the plant will be utilizing the Tudaya Falls.
"The construction of the plant is ongoing. Since it can generate power which is more than the need of the province, the company plans to sell the excess utilized power to its sister company, the Davao Light and Power Company. So hindi lang ang Davao del Sur ang makikinabang nito, but also Davao City," Lopez said.
With the power project, Sta. Cruz already surpassed its target investment for the year, which was pegged at P50 million.
Other than Hedcor, Lopez said there are investors who have signified interest in putting up shops in Sta. Cruz.
He said the Franklin Baker Company, an American-owned company, has proposed to establish another coconut processing factory in the municipality.
"I still don't have an idea how much was allotted for the establishment of another factory, but the new factory will be an expansion of the company's existing factory. It will still be established inside the 15-hectare land area which the company owns," Lopez said, adding that the new factory will be even bigger than the old one.
"The new factory will surely generate a thousand of jobs for residents in the area," he said.
