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MANILA, Philippines — To meet the country’s growing demand for water and power, the government is eyeing to build 20 medium and three to five large dams by 2028, the end of President Marcos’ term, according to National Irrigation Administration (NIA) head Eduardo Guillen.
Alternergy [ALTER 0.75, down 1.3%] [link], the renewable energy generation company founded by Vince Pérez (former DoE Secretary), announced that its board of directors reallocated P65 million of the IPO proceeds that were originally scheduled for the Solana Solar Project, Ibulao Mini Hydro Project, Cavite Offshore Wind Project, Tablas Strait Offshore Wind Project, and the operationalization of Green Energy Supply Solutions Inc. The funds will now be applied to the Tanay Wind Project and Alabat Wind Project, which are both scheduled to begin construction in Q2. These projects are scheduled to begin commercial operation by November 2025.
BAGUIO CITY, Philippines — Baguio Mayor Benjamin Magalong is facing another graft case before the Office of the Ombudsman in connection with the allegedly anomalous improvement and rehabilitation of a P50-million multipurpose building in Barangay Irisan.
COTABATO CITY, Philippines — At least 17 people died while four others were injured in a collision involving a dump truck and a utility van in Antipas, Cotabato yesterday afternoon.
Wilcon [WLCON 43.00 unch] [link], the home improvement and construction products retailer owned by William Belo, revealed that its FY23 net income was P3.5 billion, which was down 9.5% from the P3.8 billion it posted in net income the previous year. WLCON reported that net sales were up 3% to P34.6 billion, gross profit was up 4% to P13.7 billion, but that its operating expenses were up 9.5% to P3.5 billion. The company said that the net sales increase was from the contributions of new stores, but that the “expansion-related expenses” from opening those stores caused its operating expenses to rise and lower its overall net income for the year. WLCON also referred to the “softness of the market” as another reason for its failure to exceed its FY22 profitability, as evidenced by the 3.4% drop in same-store sales. WLCON said that it is still pushing toward its “100-store goal by 2024” and is planning to open two Do It Wilcon branches and eight depot format stores in hopes of being “in the best position” once “home improvement spending rekindles.”
MANILA, Philippines — Ormoc City Mayor Lucy Torres-Gomez has denied claims that the city government does not own a parcel of land in Barangay San Pablo, where the Ormoc City College will be constructed.
MANILA, Philippines — Some project developers cut through the Chocolate Hills in Bohol during the construction of their structures, Environment Secretary Maria Antonia Yulo-Loyzaga said, reiterating that this is prohibited under the National Integrated Protected Areas System (NIPAS) law.
TACLOBAN CITY – Residents of two farming villages in this city will soon enjoy paved roads as the Department of Agrarian Reform (DAR) and Department of Public Works and Highways (DPWH) start the construction of two farm-to-market roads (FMRs) following its recent groundbreaking rites.