GGLC Express Issue - Global Gateway Logistics City

PAGE 6National NewsLow interest rates lead to an increase in bank loanswhich, in turn, spur consumption and investments.However, S&P said growth of the economies in theregion in the second half could be slower than thatseen in the first half.This is because some of the stimulus measures implementedearlier by their respective governmentscould be withdrawn due to the recovery of theglobal economy.Some central banks in the region may soon raisetheir key interest rates, S&P said.The credit firm expects average growth of the Asean5 in the second half to be at 4.8 percent.“The weaker second half outlook is due to the waningimpact of inventory restocking off a weak base,fiscal stimulus withdrawal, and monetary policytightening,” S&P said.Clark Electric allots P170 million for newprojectsThe Philippine StarSeptember 16, 2010Based on its petition, CEDC will undertake theconstruction of an additional transformer bayusing the existing 40 megavolt-ampere powertransformer.It also plans to construct a 69-kilovolt tie-line toconnect to the Angeles Electric Milenyo substation.It also proposes to connect the 69-kv line loopingto Clark Development Corp. 230-kV substation,installation of power quality meters at Clark Electric’s69-kv delivery points, installation of faultindicators on the 13.8-kv feeder lines, automatedmeter reading of top 20 locators and installationof fiber optic lines.On the other hand, non-electrical projects involvethe construction of a three-story office buildingand warehouse, financial management systemtechnology upgrade and the purchase of a truck.“The said electric and non-electric capital projectsshall be funded by CEDC using its approved creditfacilities,” CEDC said.MANILA, Philippines - Clark Electric DistributionCorp. (CEDC) plan to spend about P170 million for itsprojects this year and next, the company said instatement.CEDC is seeking the approval of the Energy RegulatoryCommission (ERC) to implement the projectswhich it said would be beneficial to its customers.“In an effort to improve the quality of service to itslocators, CEDC herein seeks authority to install, construct,operate and maintain its major electrical capitalprojects and non-electrical capital projects for2010-2011,” it said.CEDC, which services the Clark Freeport Zonein Pampanga, is a joint venture between AngelesElectric Corp. and Meralco Industrial EngineeringServices Corp. (Miescor), a subsidiary of Manila ElectricCo. (Meralco).Another reason to locate in Clark is stable power supplyAccording to CEDC, it had set aside about thesame amount in 2009 for projects to provide reliablesupply of power in the ecozone. CEDC chiefoperating officer Radito P. Tuazon earlier said theupgrading of these facilities was necessary to supportthe demand growth in the area.