Ormin Power, Inc. LISTED JOLLIVILLE Holdings Corp. will build a 10 megawatt (MW) hydroelectric power plant in Mindoro through subsidiary Ormin Power, Inc.
In a statement Friday, Jolliville said mini-hydropower plant will harness the Inabasan River and benefit the municipality of San Teodoro in Oriental Mindoro province.
The power plant is estimated to cost P1.5 million and is expected to be operational by 2012.
Ormin Power is also constructing an 8-MW diesel power plant in Sta. Isabel, Oriental Mindoro which costs around P380 million and will be operational by 2011.
Jolliville recently increased its stake in Ormin Power to 60% from 46.8%
For the nine month period ending September, Jolliville posted a net income of P46.7 million.
It has interests in leasing, management services, property development and local water works.
