BAGUIO CITY — A reputable company from the city’s South Korean sister city has offered the city a proposed joint venture for the development and operation of the Asin mini-hydroelectric plants.

Mayor Reinaldo Bautista Jr. told his weekly media briefing Thursday that K Water, a reputable government water service firm responsible for making 95 percent of water in South Korea potable, proposed a US$20 million deal for the city’s mini-hydros.

The mayor who came from an official visit to Taebaek, Baguio’s sister city, said the venture would involve the rehabilitation, development, operation and output distribution system of the mini hydros.

He said the K Water would submit a formal proposal which would be forwarded to the city council for action.

The mayor said K Water’s offer is one of the sharing ventures discussed during the Baguio delegation’s visit to Taebaek.

The visit aims to pursue other exchange programs with Taebaek in the fields of tourism, social, cultural, economic, scientific, legislative, administrative and communication technologies.

As to the Asin power plants which the city government is presently managing, the city also received offers for their development and operation from local and foreign companies.

One offer was from Petroxy Corporation, a group of foreign companies based in Korea, engaged in the development of natural resources as sources of renewable energy.

Petroxy chief executive officer, in a letter to the mayor, said it is engaged to develop hydroplants in Kapangan and Kibungan, Benguet but intended to prioritize the Asin hydros if given the chance.

Petroxy’s letter of intent was forwarded by the mayor to the city council for study and recommendation.

The city council recently authorized the city mayor to make initial negotiations with any interested company for the hydros.

The mayor said all proposals would be brought back to the city council for recommendation. # Aileen P. Refuerzo/PIO-Baguio City