EEI pays out P0.20 dividends for 2015

Listed EEI Corp. posted its highest production mark with a profit of P18 billion last year, resulting in cash dividends of 20 centavos per share.

The EEI board approved cash dividends of 10 centa­vos per share for sharehold­ers as of April 8 with pay­ment date on April 29 and another 10 centavos for stock holders as of Sept. 1 with payment date on Sept. 26.

EEI recently signed a joint venture partnership in Saudi Arabia with Al Rushaid Con­struction Co., being recog­nized by Mitsubishi Hitachi Power Systems (MHPS) for having logged 25 million safe man-hours without lost-time incident in its Rabigh Indepen­dent Water Steam and Power Plant Project in Saudi Arabia.

The project will supply the power and steam require­ments of the Rabigh Petro­chemical Plant in Saudi Arabia.

“Three of the four boil­ers have already been suc­cessfully commissioned. The last boiler is scheduled to be fired before the end of 2015,” EEI reported on the project.

EEI, in a consortium with Hyundai Rotem Co., also signed with Universal LRT Corp (BVI) Ltd. the contract for the engineering, procure­ment and construction and commissioning of the Metro Rail Transit (MRT) System and Intermodal Transporta­tion Terminal of the MRT-7 project that will connect Quezon City to San Jose City, Bulacan, via a 22.8 ki­lometer commuter rail line.

The EEI also disclosed recently the completion of the 50.07-megawatt (MW) Tarlac solar project’s link­age to the Luzon grid and that it had started commis­sioning test last January.

Situated in 55 hect­ares within the Peza-regis­tered Central Technopark in Tarlac City, the project is owned by PetroSolar Corp., a joint-venture firm of Petro­Green Energy Corp. (PGEC) (56 percent), and EEI unit EEI Power Corp. (44 percent).

EEI also obtained a contract from Global Gate­way Development Corp. (GGDC) to undertake the general construction works of Phase 1 of the Aeropark Campus, within the Clark Freeport Zone in Pampanga.

This phase of the project is a part of the master-planned 177 hectare Global Gate­way Logistics City (GGLC), which currently includes The Medical City Clark and which will also contain cor­porate and BPO offices, retail offerings, hotels, residential buildings, a town center, rec­reational areas and other spa­tial offerings and amenities.

Through the development of GGLC, GGDC estimates the generation of at least 300,000 jobs over the next 10 years, thus accelerating the growth and prosperity of the region.Groundbreaking for this proj­ect took place recently and is scheduled for a May 2017 completion date. RIZA LOZADA