TransCo, Hanjin in power supply deal

The National Transmission Corp. (TransCo) has signed a memorandum of understanding with Hanjin Heavy Industries & Construction (HHIC-Phil) for the direct power connection of Hanjin's shipbuilding facility to be built within the Subic Bay Metropolitan Authority (SBMA) complex. Under the MOU, HHIC-Phil will design, finance, construct, test, commission and own a 220-km 230-kV double circuit steel tower transmission line and a 230-kV substation which will together serve as the shipbuilding project's power source. The connection facilities should conform to TransCo's standard design and specifications. TransCo shall subsequently assume the operation and maintenance of the facilities. Hanjin said it expects to generate jobs for about 1,000 Filipino workers during the construction of the shipbuilding facility and directly employ about 3,000 to 7,000 professional managers, technical staff, and skilled shipyard workers. It will likewise produce about $1-2 billion worth of exports and an investment inflow of about $1 billion during the erection of the plant and put the Philippines on the world map of large scale shipbuilding. - GMANews.TV