TransCo, NGCP inventory of transmission assets to resume

THE National Transmission Corp. (TransCo) and the National Grid Corp. of the Philippines (NGCP) said they have agreed to resume the physical inventory of transmission assets.

âTransco believes in a diplomatic and developmental approach towards providing a solid foundation for future asset management and operational efficiency,â President and Chief Executive Officer Fortunato C. Leynes said in a statement on Wednesday

âWith this agreement, TransCo can ensure the interest of the government and its citizens,â he added.

Under the memorandum of agreement, TransCo will conduct the inventory and validate the transmission assets, in order to update TransCoâs records and fixed asset registry.

TransCo said that the inventory will be conducted âexclusivelyâ by TransCo employees.

TransCo is a government-owned and -controlled corporation which owns the countryâs transmission assets, while the NGCP is the private corporation that won the concession to operate and maintain the transmission system. â Sheldeen Joy Talavera

Source: https://www.bworldonline.com/economy/2024/08/15/614389/transco-ngcp-inventory-of-transmission-assets-to-resume/