Power project in Toledo named top importer

Therma Visayas Inc. (TVI), a joint venture of AboitizPower and Vivant Corp., paid a total of P1.37 billion in import duties in 2016 and got named Cebu’s top importer of the year.

The Bureau of Customs (BOC) Port of Cebu honored TVI, along with other importers and exporters, when it celebrated its 131st founding anniversary on July 28.

BOC Cebu gave recognition to 10 top importers, 10 top exporters and 10 top exporters located at Philippine Export Zone Authority-accredited economic zones.

TVI is building a 2 x 150-megawatt thermal power plant in Toledo City. The first unit of TVI is expected to enter commercial operations in 2018 to provide reliable, ample and competitively priced power for Cebu and the rest of the Visayas.

Lawyer Elvira Cruz, Cebu district collector, thanked importers and exporters for helping BOC Cebu surpass its target in 2016.

The Port of Cebu and its subports in Mactan and Dumaguete posted a total collection of P18.3 billion in 2016, way above its P17.2-billion target.

Lawyer Edward James Dy-Buco, deputy commissioner for the BOC’s assessment and operations coordinating group, said that the collection of duties and taxes provide much-needed funds for President Duterte’s “Build, Build, Build Program.”

In his speech during the fellowship and awards night, Dy-Buco said that 30 percent of the funds for the program will come from the BOC.

Sebastian Lacson, chief operating officer of the AboitizPower coal business unit, said that AboitizPower and its partners welcome opportunities to contribute to the country’s economic growth.