00:00In the National Grid Corporation of the Philippines,
00:03the Maharlika Investment Corporation will be the first to invest.
00:07The Maharlika Investment Corporation will invest Php 19.7 billion
00:11to get a 20% stake in the NGCP.
00:15The agreement was signed between Maharlika
00:18and Synergy Grid and Development Philippines Incorporated
00:21which holds 40% shares of the NGCP.
00:24In this way, the government will be able to help
00:27in supporting projects that can lower the price of electricity.
00:31And with this, Maharlika will have two board seats in the NGCP
00:36that will be important in maintaining its governance.
00:39Some sectors that are held by the State Grid Corporation of China
00:45allowed the 40% shares of the NGCP.
00:48The NGCP said that this is not a threat to the security of the country.
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