Bataan nuclear plant repair, operation to cost less than $1B

THE REPAIR and possible commercial run of the Bataan nuclear plant could cost lower than the initial estimate of $1 billion and could attract funds other than those coming from the government, proponents of nuclear energy for the country said on Friday.

“Sa pera (For the money)…there will be a lot of funders. A lot of funders believe in the economic value of such an investment,” said Energy Secretary Alfonso G. Cusi. “Funds will not be a problem.”

Mr. Cusi is one of many supporters of nuclear energy for the Philippines who tried to allay fears about the technology during a press briefing at the head office of the Philippine National Oil Co. in Taguig City.

Mauro L. Marcelo, Jr., department manager of the National Power Corp.’s asset preservation department, said his office had received a proposal before from a consortium of Japanese and Filipino companies to revive the plant for about $700 million. He did not disclose the name of the consortium.

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