Balanga City, Bataan—Hanjo Group Manufacturing Inc., a Korean firm on Thursday entered into a memorandum of understanding with the provincial government to build a $1billion 600-megawatt thermal power plant in Bataan.
Gov. Albert Garcia said the project, which can give employment to at least 10,000 workers, will be a public-private partnership endeavor.
“Aside from job creation and development for Bataan, the thermal power plant is a clean source of energy. As demand for energy increases, it is good to know that our partners think clean and green,” the governor said.
The project proponents have yet to identify a site for the power plant or the date of completion, but said studies are underway.
Garcia thanked Korean Hak Joo Choi, Hanjo chief operating officer and Japanese partner Chris Takayama, company chief finance officer, for choosing to locate the plant in Bataan.
“I hope this will be the start of something huge for the province,” the governor said.
“This is an answer to the increasing need for clean energy in the next five years. And it will further boost the Philippines’ energy capacity,” for his part said the Korean company chief operating officer.
Takayama also said Bataan has a good track record in terms of dealing with foreign investors.