By Othel V. Campos – July 03, 2019 at 07:55 pm from manilastandard.net The Philippine Competition Commission approved the proposed joint venture between state-run Bases Conversion and Development Authority and the consortium of Manila Electric Co. and its Japanese partners for the development of a power distribution system in New Clark City. PCC records showed the consortium would be comprised of Meralco, Japanese conglomerate Marubeni Corp. and power distributors Kansai Electric Power Co. Inc. and Chubu Electric Power Co. The transaction of BCDA and the Meralco-Marubeni Consortium will create a joint venture company that will distribute power to locators and facilities in New Clark City in Tarlac province for an initial period of 25 years. Under the deal, the consortium will have a 90-percent equity stake in the joint venture company, while BCDA will own the remaining 10 percent.