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Philippines incentives to get go ahead |
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The incentives are to include income tax relief for eligible parties and preferential import duties for capital equipment. The qualifying criteria varies for each segment. Bus operators must have their own vehicle depots (many Philippine buses are run by sole operators), fuel providers must invest a minimum of US$500,000 per refuelling site, conversion shop operators must invest a minimum of US$200,000 in equipment, and vehicle manufacturers must invest US$8 million in assembly equipment.
Manila Bulletin |
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A PUBLIC SERVICE OF EXCALIBURCNG HAULING, STORAGE & DISTRIBUTION, INC. |
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The
Philippines Board of Investments is to approve a series of incentives
designed to accelerate the Government's natural gas vehicle (NGV)
programs. The incentives will be available to transport operators,
fuel suppliers, conversion shop operators and vehicle
manufacturers who reach specific investment criteria.
The
Department of Energy, the lead agency for the Philippine
Government's NGV programs, has already negotiated favourable pricing
for natural gas with the Malampaya Consortium, comprising Shell,
ChevronTexaco and the Philippines National Oil Company. The
agreement holds CNG at around 50% of the price of diesel for the
next seven years.