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NGCP donating P1 billion for COVID-19 response, aid for health workers

NGCP donating P1 billion for COVID-19 response, aid for health workers

MANILA, Philippines — The National Grid Corp. of the Philippines pledged P1 billion to President Rodrigo Duterte on Monday in support of the government's response against the novel coronavirus epidemic.

Anthony Almeda, NGCP president and CEO, said in a letter that the company's board of directors, specifically major stockholders Henry Sy Jr. , Robert Coyiuto Jr. and the State Grid Corp. of China, decided to donate the amount in the form of goods and cash.

P500 million will be in the form of medical equipment for medical frontliners, while the remaining P500 million will be in cash for allocation to other efforts of the government.

"We will also continue to look for opportunities to support the government in battling this epidemic," Almeda wrote.

The China Grid Corp. is among the three companies of the NGCP consortium, the two others being the Sy-owned Monte Oro Grid Resources Corp. and the Coyiuto-run Calaca High Power Corp.