Cordillera town receives P1.3M

The Municipality of Bakun, a town located in the Cordilleras, recently received P1.3M worth of development assistance from Luzon Hydro Corporation (LHC), a joint venture between Aboitiz Equity Ventures and Pacific Hydro Limited of Australia.
LHC Bakun AC operations manager, Chris Faelnar, handed the check over to Municipal Mayor,
Bartolome Sacla, and Vice Mayor, Baldas Ognaden. The local councilmen witnessed the turnover last
January 2002 at the Bakun Municipal Plenary Hall.

Every year, LHC provides financial assistance to the Municipality of Bakun in the amount of P1.3M. A
Memorandum of Agreement has allocated the amount for the following purposes: 1) P350,000 for watershed management, 2) P350,000 for maintenance works of the road from Barangay Sinipsip to
Barangay Poblacion, 3) P150,000 for local socio-economic endeavors by the municipal government,
4) P100,000 for social and economic alleviation projects undertaken by the barangay officials of
Barangay Poblacion, 5) P150,000 for socio-economic projects undertaken by barangay Kayapa, and
6) P50,000 each for Barangays Dalipey, Sinacbat, Gambang, and Ampusongan.

LHC owns the 70MW Bakun AC Plant, the first and the largest hydro build-operate-transfer project in
the Philippines. The Bakun AC Plant is located in Alilem, Ilocos Sur, and is operated and maintained
by Benguet-based Hydro Electric Development Corporation, an Aboitiz company.

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