Thursday, September 21, 2017

Mayor Domogan to Kaltimex: Pay P150M performance bond for Asin hydro powerplants

Baguio City Mayor Mauricio Domogan has called on Kaltimex Energy Philippines to comply with its contractual obligations for the operation and maintenance of the Asin mini-hydro powerplants.

This after the Baguio city government could not locate the bonding company through which Kaltimex coursed its P150-million performance bond.

The P150-million performance bond is equivalent to 30% of the total rehabilitation cost of the Asin mini-hydro powerplants.

The Baguio politiko said Kaltimex should stop making excuses and comply with its contractual obligations to the city government.

Domogan also said Kaltimex’s actions have caused him to doubt the company’s sincerity.

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