Last July 1, 2012, Pres. Obama picked a Harvard-trained physician & Korean-American to head the most powerful financial institution on earth. Dr. Jim Kim is the president of the World Bank. What does he know about finance and global finance?
In his lecture at Harvard last May 2013, he boasted how the World Bank helped 600 million Chinese get out of poverty. Dr. Jim Yong Kim’s first “accomplishment” in the Philippines: Provide jobs to non-Filipinos.
Aquino III sells Angat Dam power plant at lower price to Korea‘s K-Water
August 27, 2014 6:21pm
The government has accepted a lower purchase price for 218 megawatts (MW) of the Angat Dam hydroelectric power plant in Bulacan from Korea Water Resources Development Corp. (K-Water), an Energy official said.
K-Water’s bid was reduced to $439 million from an original $440.88 million in 2010, Power Sector Assets and Liabilities Management Corporation (PSALM) president and CEO Emmanuel R. Ledesma told GMA News Online on Wednesday.
“The roughly $439 million reduced purchase price is a result of the capacity testing of (the hydroelectric power plant’s) main units 2 & 4 under the APA (Asset Purchase Agreement),” Ledesma said in a text message to GMA News Online.
The turnover of the facility was set for September 1.
K-Water won the bid for Angat Hydro Electric Power Plant on April 28, 2010, beating “Filipino” oligarch-owned rivals First Gen Northern Energy Corp., San Miguel Corp., SN-Aboitiz Power Pangasinan Inc., Trans-Asia Oil & Energy Development Corp., and DMCI Power Corp.
In October 2012, the Supreme Court allowed the sale the power plant to push through despite a petition by Freedom from Debt Coalition (FDC) and other civili society stakeholders to stop the transaction.
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THE PHILIPPINES HAS BEEN PROVIDING JOBS TO FOREIGN WORKERS, while Filipinos have to go overseas to find decent-paying jobs and remit precious US dollars back.
