Villar unit seeks BOI tax perks for diesel plant projects

S.I. Power Corp., a unit of Villar-led Prime Asset Ventures Inc., has sought tax perks from the Board of Investments for its proposed diesel plants in Siquijor.

Based on a notice, S.I. Power is applying for registration on a pioneer status as a new operator of diesel plants, which can generate a total of 6.464 megawatts.

One facility, which has a capacity of 3.232 MW, will be put up in the municipality of Siquijor, while a second plant of another 3.232 MW will be placed in Lazi.

It was earlier reported the Siquijor diesel stations, which would be the Villar group’s first foray in the power generation business, are expected to replace the power plants managed and operated by the state-run National Power Corp. in the province.

The reported target was to complete the facilities within 11 months after the equipment has been delivered to the proposed site of the diesel stations.

Should the project be approved by the BOI, S.I. Power Corp. will be entitled to a menu of fiscal and non-fiscal incentives, as provided under the 2013 Investment Priorities Plan.

These include an income tax holiday and exemption from taxes and duties on imported spare parts; exemption from wharfage dues and export taxes. Amy R. Remo