00:00The National Grid Corporation of the Philippines, or NGCP,
00:05will be the first to invest heavily in the Makalika Investment Corporation.
00:11This will push the company to ensure that the projects that will reduce electricity costs will be completed.
00:19This is what Ivan Mayerina reported.
00:25Enough and lower prices of electricity for the country.
00:28This will be the result of the investment of Makalika Investment Corporation, or MIC,
00:33in the National Grid Corporation of the Philippines,
00:35which is responsible for the power grid that supplies electricity to the country.
00:38The agreement was signed between Makalika and Synergy Grid and Development Philippines, Inc.,
00:44which holds 40% of the shares of NGCP.
00:48Makalika will invest P19.7 billion to get a 20% stake in NGCP.
00:55As an investor, the government will help in supporting NGCP's infrastructure projects
01:00so that these can be completed.
01:02The way NGCP can contribute to lower electricity is by ensuring that that rollout indeed happens.
01:10Because once you've got that transmission grid infrastructure being rolled out successfully,
01:15then you would have more power players that can in fact get onto the grid and provide supply to the grid.
01:24And obviously, just like any commodity, as you've got more supply coming in,
01:30the price of power will at some point in time come down.
01:3540% of the shares of NGCP are held by the State Grid Corporation of China.
01:39This is something that some sectors will be in charge of because of the early move to security.
01:44With the investment of MIC, it will get two board seats in NGCP,
01:49which is said to be important for the government to monitor.
01:52Even though NGCP has already stated that it is not a threat to the country's security.
02:22and their transmission facilities, then we would also be able to,
02:27the government will also be better able to contribute to addressing those issues.
02:32And if possible, the Maharlika can also buy shares of the State Grid Corporation of China.
02:37If it becomes available, I think so, yes.
02:41Funding for NGCP is the first major investment of the Maharlika Investment Fund,
02:47established by the Marcos Administration to earn funds that can be used for the development of the economy.
02:53For GMA Integrated News, Ivan Mejrini, for Tutok, 24 hours.
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