THE Economy and Development Council reviewed plans to rehabilitate Mindanao’s Agus-Pulangi Hydropower Complex, extend works on Metro Manila flood control projects and address implementation issues affecting the Samal Island-Davao City Connector, according to the Presidential Communications Office (PCO).
The proposed rehabilitation of the Agus-Pulangi complex would restore generating capacity to 1,001.96 megawatts from existing levels and increase annual power output to 4,305 gigawatt-hours from 3,746 gigawatt-hours, the PCO said in a statement on Wednesday.
The administration said the project would help provide a more reliable electricity supply for households and businesses in Mindanao.
The project will be undertaken through a proposed 25-year partnership between the Power Sector Assets and Liabilities Management Corp. (PSALM) and a consortium of San Miguel Global Power Holdings Corp. and Sta. Clara International Corp., the Palace said.
The agreement could be extended for another 25 years, subject to government approval. The proposed tariff would be capped at P4 per kilowatt-hour, pending approval by the Energy Regulatory Commission.
PSALM has received three unsolicited proposals for the project, two of which remain under evaluation. The government is targeting the selection of a private partner by December, with rehabilitation works expected to begin in 2027.
Meanwhile, the council reviewed a proposal to extend the completion deadline for seven remaining pumping stations under Phase 1 of the Metro Manila Flood Management Project to May 31, 2027.
The pumping stations form part of an original target of 38 facilities under the flood control program. The PCO said the extension would be the second and final one and would not alter the project’s approved scope or cost.
President Ferdinand R. Marcos, Jr. also directed the Department of Public Works and Highways to resolve funding and implementation issues affecting the Samal Island-Davao City Connector, a 3.98-kilometer, four-lane cable-stayed bridge linking Davao City and Samal Island.
Separately, the council reviewed Project BALAY, a pilot initiative that would build dormitories in five state universities and colleges in partnership with the Commission on Higher Education and the Pag-IBIG Fund.
Each dormitory is estimated to cost P165.6 million. Under the proposed financing structure, the government would provide either a 30% or 10% upfront payment, while Pag-IBIG would finance the balance. Annual government payments beginning in 2028 would amount to P61.56 million under the 30% option and P82.58 million under the 10% option over nine years at a 3% interest rate.
The PCO said the dormitory project still requires presidential approval, concurrence from the Monetary Board and a forward obligational authority from the Department of Budget and Management. — Erika Mae P. Sinaking