ILOILO CITY — MORE Electric and Power Corp., the power distribution business of the Razon group in this province, is investing about P1 billion to improve power services in Bohol.
“For Bohol, the investment should be … perhaps a billion would be more or less doable in the next four years because Bohol is not as big as Ceneco (Central Negros Electric Cooperative Inc.),” MORE Power president and CEO Roel Castro said in a chance interview.
Cebu-based listed firm SPC Power Corp. divested its stake in Bohol Light Co. Inc. (BLCI) to MORE Power affiliate Primelectric Holdings Inc. for P199.5 million. The transaction, which materialized in April this year, involved the acquisition of 29.92 million common shares in BLCI for P6.67 apiece.
READ: MORE Power invests P115 million to improve power services
Incorporated in 2000, BLCI is engaged in the business of supply and distribution of electricity serving customers in Tagbilaran…
