MANILA: President Ferdinand R. Marcos Jr. granted Romblon Electric Cooperative, Inc. (Romelco) a 25-year franchise to establish power supply in three island municipalities of the province. Marcos signed Republic Act 12020 on Aug. 29, granting Romelco a 25-year franchise 'to construct, install, establish, operate, own, manage and maintain distribution systems for the conveyance of electric power to end-users in the municipalities of Banton, Corcuera, and Concepcion, Province of Romblon." Under the new law, Romelco is mandated to supply electricity to consumers 'in the least costly manner.' Economic zones The President also issued two proclamations creating and designating a building on a parcel of land in Mandurriao, Iloilo City as a Special Economic Zone (SEZ) and expanding the Lima Technology Center-Special Economic Zone in Malvar, Batangas. Proclamation No. 668 and 670 were issued by the President on August 27 upon the recommendation of the Board of Directors of the Philippine Economic Zone Authority ( PEZA), according to the Presidential Communications Office. Proclamation No. 668 creates and designates a building and the parcels of land where it stands as an Information Technology Center in Iloilo City in the island of Panay. The building designated is to be known as the Grid. Meanwhile, Proclamation No. 670 designates several parcels of land as an inclusion to the existing Lima Technology Center-Special Economic Zone in Malvar, Batangas. According to PEZA, of 419 economic zones in the country, a total of 297 are information technology parks or centers. PEZA promotes the establishment of economic zones in the Philippines for foreign investments. Source: Philippines News Agency