Mothballed plant costs millions

1 January 2003

The mothballed Bataan nuclear power plant will cost Philippine taxpayers P2.3 billion ($44 million) in loan instalments in 2003.

Representative Juan Miguel Zubiri cited budget documents that said that of the P2.338 billion scheduled payments for the plant, P1.828 billion ($34 million) is for amortisation of the loan principal, while P510 million ($10 million) will be in interest charges. He stressed that the plant should be a constant reminder for Filipinos to always guard against corruption in the implementation of strategic projects.

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