Construction of Century Peak's Leyte smelting plant secures environmental clearance
11/27/2009 | 10:44 PM
The construction of its subsidiary’s Leyte smelting facility will no longer need an environmental compliance certificate (ECC), Century Peak Metal Holdings Corp. said.
The plant’s construction secured a certificate of non-coverage issued by the Leyte’s regional office number 8 of the Environmental Management Bureau (EMB), Century Peak said in its disclosure submitted to the Philippine Stock Exchange (PSE).
The certificate of non-coverage “will allow ground-breaking and ground preparation work for the smelting plant," Century Peak’s Willie Keng said in a text message to GMANews.TV.
Located at the Leyte Industrial Development Estate in Isabel, Leyte, the smelting plant will be managed by Century Hua Guang Smelting Inc. (CHGSI), a Century Peak subsidiary.
It will produce nickel pig iron, which is used to produce steel.
CHGSI is in the process of securing an environmental compliance certificate (ECC) which the company “hopes to get soon," Keng said in the same text message.
Environmentally-critical projects, including those covering mining enterprises, require ECCs, which are also issued by the EMB, which falls under the Department of Environment and Natural Resources (DENR).
In late October, the plant was registered as an ecozone export enterprise at the Philippine Economic Zone Authority (PEZA).
As a result, besides enjoying income tax exemptions for four years, the company will also be allowed duty-free imports of its capital equipment and raw materials.
Shares of Century Peak Metals shed 40 centavos during Friday's trading at the PSE. - RJAB Jr., GMANews.TV
The plant’s construction secured a certificate of non-coverage issued by the Leyte’s regional office number 8 of the Environmental Management Bureau (EMB), Century Peak said in its disclosure submitted to the Philippine Stock Exchange (PSE).
The certificate of non-coverage “will allow ground-breaking and ground preparation work for the smelting plant," Century Peak’s Willie Keng said in a text message to GMANews.TV.
Located at the Leyte Industrial Development Estate in Isabel, Leyte, the smelting plant will be managed by Century Hua Guang Smelting Inc. (CHGSI), a Century Peak subsidiary.
It will produce nickel pig iron, which is used to produce steel.
CHGSI is in the process of securing an environmental compliance certificate (ECC) which the company “hopes to get soon," Keng said in the same text message.
Environmentally-critical projects, including those covering mining enterprises, require ECCs, which are also issued by the EMB, which falls under the Department of Environment and Natural Resources (DENR).
In late October, the plant was registered as an ecozone export enterprise at the Philippine Economic Zone Authority (PEZA).
As a result, besides enjoying income tax exemptions for four years, the company will also be allowed duty-free imports of its capital equipment and raw materials.
Shares of Century Peak Metals shed 40 centavos during Friday's trading at the PSE. - RJAB Jr., GMANews.TV
