FIRST PHILIPPINE HOLDINGS IS A CORPORATION THAT IS CONSTANTLY IN ACTION. WE’RE ALWAYS TRYING TO FIND WAYS TO DELIVER FOR OUR STAKEHOLDERS AND THE FILIPINO PEOPLE.
Lopez Group spends P147M for state-of-the-art classrooms
The Lopez Group of Companies led by First Gen, First Balfour, First Philec and Energy Development Corp. (EDC) has spent P147.07 million for the construction of state-of-the-art classrooms in areas affected by typhoon Yolanda.
To date, the school rebuilding program is already on its third phase. This aims to construct a total of 122 typhoon resilient classrooms that can withstand winds of up to 250 kilometers per hour.
From the 122 target classrooms, 77 are finished and being used as these were awarded fully furnished with chairs, restrooms, blackboards and electric fans.
The Lopez Group expects 6,000 students to benefit from the classrooms annually.
The Lopez Group said the three phases of the program amounted to a total of P230.57 million, of which P83.5 million were funds pooled by Sagip Kapamilya from various donors, with the rest sourced from the Lopez Group.
Under phase 1 of the school rebuilding program, EDC constructed 14 new classrooms and repaired 10 others in four pilot schools in Ormoc City; under phase 2, the company constructed 48 new classrooms in 18 school sites in Leyte.
For phase 3, First Gen, First Balfour and First Philec will fund the construction of 43 classrooms in 20 school sites in seven towns – Carigara, Capoocan, Barugo, Jaro, Pastrana, Burauen and Kananga – and Ormoc City in Leyte, Sulat town in Eastern Samar and Dumarao town in Capiz.
“The school rebuilding program forms part of the Lopez Group’s own efforts as a development sponsor. These efforts include skills and livelihood training program for indigent victims of the typhoons as well as climate change studies,” said Renato Castillo, First Gen senior vice president and head of risk management.
Aside from school rebuilding, the Lopez Group also enabled the Kananga EDC Institute of Technology, a vocational school that offers technical courses including carpentry, plumbing, electrical installation and maintenance, basic welding and masonry.
First Gen is one of the biggest independent power producers in the Philippines with an installed capacity of 2,957 megawatts. It is the primary holding company for the power generation and energy-related businesses of the Lopez Group.
EDC, a First Gen subsidiary, is the world’s largest vertically integrated geothermal company.
First Balfour is the Lopez Group unit engaged in construction and engineering services, while First Philec is the holding company for manufacturing and technology-related investments.
Source: Malaya Business Insight