TransCo sells assets in Ilocos Norte
The Philippine Star 07/24/2006
The National Transmission Corp. (TransCo) has sold another sub-transmission assets in Ilocos Norte.
TransCo president Alan T. Ortiz signed last July 21 a divestment contract with Ilocos Norte Electric Cooperative Inc. (INEC) board president Lorenzo Rey G. Ruiz to effect the sale of 53.33 circuit kilometers of sub-transmission lines in the province.
"Today, we have reached another milestone in our program to divest our sub-transmission assets. This is our 27th divestment contract and the first in the Ilocos region," Ortiz said.
"The sale is expected to further boost the services of INEC, thus ensuring the further economic development of Ilocos Norte, which is truly endowed with abundant resources and an attractive investment area in the northern part of the country," he said.
INEC’s service area covers the whole of Ilocos Norte composed of Laoag City, 22 municipalities, and 557 barangays with 116,742 house connections.
The divestment contract with INEC, valued at P94.1 million payable in 20 years, involves five sub-transmission lines, all rated at 69 kilovolts. These are the Curimao-San Nicolas, San Nicolas-Laoag, Laoag-Sarrat, Sarrat-Marcos, and Sarrat-Piddig lines.
The recent divestment brought the total sales of TransCo’s STAs at over P1.5 billion comprising 9,256 structures and spanning 1,048 circuit kilometers.
The National Transmission Corp. (TransCo) has sold another sub-transmission assets in Ilocos Norte.
TransCo president Alan T. Ortiz signed last July 21 a divestment contract with Ilocos Norte Electric Cooperative Inc. (INEC) board president Lorenzo Rey G. Ruiz to effect the sale of 53.33 circuit kilometers of sub-transmission lines in the province.
"Today, we have reached another milestone in our program to divest our sub-transmission assets. This is our 27th divestment contract and the first in the Ilocos region," Ortiz said.
"The sale is expected to further boost the services of INEC, thus ensuring the further economic development of Ilocos Norte, which is truly endowed with abundant resources and an attractive investment area in the northern part of the country," he said.
INEC’s service area covers the whole of Ilocos Norte composed of Laoag City, 22 municipalities, and 557 barangays with 116,742 house connections.
The divestment contract with INEC, valued at P94.1 million payable in 20 years, involves five sub-transmission lines, all rated at 69 kilovolts. These are the Curimao-San Nicolas, San Nicolas-Laoag, Laoag-Sarrat, Sarrat-Marcos, and Sarrat-Piddig lines.
The recent divestment brought the total sales of TransCo’s STAs at over P1.5 billion comprising 9,256 structures and spanning 1,048 circuit kilometers.
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