Russian firm eyes power investment here

A MAJOR Russian energy company expressed interest in investing in the power industry in Davao City.

Accompanied by the Russian Federation ambassador Igor A. Khovaev, representatives from the energy company InteRAO met with Davao City Mayor Sara Duterte-Carpio, Wednesday, October 16, to discuss their interests in investing in the power industry here.

Khovaev said the company specializes in the construction of different kinds of power plants such as coal-fired power plants, oil-fired power stations, and hydropower plants of different capacities.

“It is a very big, multidimensional company operating in many countries around the world. They have sophisticated, advanced energy technologies, and I believe that they can really help the city of Davao and its people in order to solve the problem of shortage of electricity,” he said.

Khovaev said the city’s “efficient and dynamic leadership” are among the reasons why the Russian investors are interested in investing in the city.

As to the type of power plant, he said it is up to the businessmen and the potential local partners to decide.

“We asked madam mayor to recommend us to reliable business partners here in Davao,” he said.

During the meeting, Duterte-Carpio endorsed the Russian businessmen to the Davao City Chamber of Commerce and Industry, Inc. (DCCCII) and the Davao City Investment Promotions Center (DCIPC) to network with local businessmen.

Meanwhile, Khovaev said the Russian Federation can extend their help to the Philippines most especially in the fields of power, agriculture, transportation, telecommunications, and digital technologies.

“We are open to extending our help to you and we believe that we can ensure establish mutually-beneficial cooperation,” he said.


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