Philippines: Quantum says $450-M fund for energy plant is clean money

Philippines: Quantum says $450-M fund for energy plant is clean money

A top official of the US based multi-national company that will soon set up
$450-million waste to energy plant in this 4th class municipality said
yesterday that the huge fund for the project is a clean money and has no
problem with AMLA (Anti-Money Laundering Act law).

"There is no problem with AMLA since the source of the money is legitimate
and clean," said Merlinda O. Cantero, vice president of Quantum
International.

Cantero's statement came in the wake of a report that few years ago the
$500-M fund of a US-based company that was supposedly used to fund another
waste-to-energy project in nearby Orion town had encountered problem with
AMLA due to unclear source. The said Orion project did not push through.

Noting its economic benefits, the proposed setting up of the biggest single
investment here was immediately welcomed by local and barangay leaders led
by their mayor Gene Malibiran dela Fuente after a series of public
consultation.

"We pray to God that this big project pushes through as this will create
jobs and generate millions of pesos of income to the people of Samal," said
the lady mayor, after conducting a public consultation among local and
barangay leaders inside the Municipal hall last Wednesday.

Representatives from Quantum International, the project funder led by its
Vice President Melinda O. Cantero, made a presentation Wednesday of the
project before the lady mayor, Vice-Mayor Aida Macalinao, town councilors,
department heads and barangay officials.

Cantero emphasized that the waste-to-energy project will be using a
state-of-the-art American technology.

Cantero expressed the company's gratitude to Mayor Dela Fuente and the
people of Sandal for accepting to host the project, the first-ever to be
implemented in the country.

"Our Chief Executive Officer Mr. Al Johnson wants to help the Filipino
people that is why he preferred to invest in our country," said Cantero.
Quantum is based in Houston, Texas.

For her part, Dela Fuente thanked Quantum for trusting their town, assuring
their full support and cooperation for the project.

Cantero assured the people here that with the company's high technology
there is no problem in environment, since the company will utilize US plasma
arc technology for a zero-waste program.

Under the program, Cantero said that the tons of wastes from neighboring
towns in the province can be accommodated by the company, saying the wastes
will be converted into energy.

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Ref:
http://www.mb.com.ph/quantum-says-450-m-fund-for-energy-plant-is-clean-money
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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com