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PIA Press Release

President Arroyo exhorts people of Leyte: Full steam ahead!

Ormoc City (September 25) -- President Gloria Macapagal Arroyo clad in her signature aqua blue pants suit, urged the local government officials and the people of Leyte "full steam ahead" right after she witnessed the signing of the Deed of Transfer of the Leyte Optimization Geothermal Plants at noon of September 25 at the PNOC-EDC gymnasium.

President Arroyo said that the geothermal plant in Leyte is not only the largest geothermal plant in Asia; it is the largest wet field in the entire world. When PIA asked a personnel of the PNOC-EDC, he said by wet field, what is meant is that the steam is mixed with water in order to generate power.

The President stressed that she is happy that the PNOC-EDC is fast becoming a very good example of the benefits and importance of the privatization program.

The PNOC-EDC gears up for the final leg of its privatization, after the Government, thru the PNOC board, has approved the sale of its remaining stake in PNOC-EDC on September 1, 2007.

After full privatization, the geothermal firm will have greater flexibility in aggressively pursuing business opportunities, as it is no longer encumbered by rules and regulations applicable to state-owned enterprises.

The President arrived at the Ormoc City Airport together with Trade and Industry Secretary Peter Favila and Secretary Ebdane. They were met by Presidential Asst for Eastern Visayas Secretary Victor Domingo, Congressman Eufrocino Codilla Sr., Mayor Eric Codilla of Ormoc City, Vice Governor Mimyet Bagulaya, Major General Armando Cunanan of the 8th ID and PNP8 Regional Director Abner Cabalquinto.

From the Airport, the President and her Party motored to the PNOC-EDC gymnasium where she was officially met by PNOC EDC President Paul Aquino, Mr. Aaron Choresh, Vice President of Ormat, Ormoc City Vice Mayor Aparris, among others.

After her speech, the President gamely allowed a photo op with the officers and department heads of PNOC-EDC, the officers and department heads of Ormat, the municipal officials of Ormoc City and Kananga; the provincial officials of Southern Leyte headed by Governor Damian Mercado and the Local Government Executives of Leyte headed by the League of Municipalities Leyte Chapter President, Tanauan Mayor Roque A. Tiu.

Also present were the employees of both Ormat and PNOC EDC, regional heads of national line agencies and members of the government and private media in Region 8. (PIA 8) [top]

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