EDC chairman and president, Sergio Apostol, said he has been talking with the National Power Corporation (Napocor) and some local government units on the proposed project over the past few months.
'We have had several discussions with some land owners, government officials of the province and even some officials of the Department of Public Works and Highways, to see if putting up of the new Agus 3 is feasible,' Apostol said.
He admitted that the project has been proposed for several years now, but nobody wants to pursue it due to some problems with right of way.
At present, the Agus complex is made up of six power plants which generate electricity using water from the Lake Lanao-Agus river system traversing the provinces of Lanao del Sur and Lanao del Norte.
The complex, which is composed of Agus 1,2, 3, 4, 5, 6 and 7, generates more than 700MW for the Mindano grid. If the Agus 3 project pushes through, it will be the seventh power plant to be constructed in the complex.
Based on the Philippine development plan, the proposed Agus 3 is expected to be built in Marawi. It is expected to be put in place in 2009 with an estimated capacity of 225MW or three units with 75MW capacity each.
According to Napacor estimates in 1998, the project would cost about US$234M.
