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TO:	General Manager Ramon R. Ravanzo National Power Corporation
	Chairman Teodoro Q. Peña Export Processing Zone Authority

1. The responsibility for the construction of Dam No. 1 of the  Bataan Zone is hereby transferred from the Export Processing Zone Authority to the National Power Corporation.
2. NPC is hereby directed to review and evaluate the A & E plans, designs, cost estimates and other contract documents of the project, as prepared by the Engineering & Development Corporation of the Philippines (EDCOP), negotiate a new contract with the Pacific Equipment Corporation (PECORP) for the construction of said Dam No. 1 and submit a complete report as a basis for providing separate funding for the project.
3. It is my desire that the project be completed soonest, and that impounding of water in the reservoir should commence by June 1975.
4. The properties, obligations, accountabilities and all contracts of the Export Processing Zone Authority  in relation to the project, including the balance of the initial outlay thereof in the amount of P12 Million shall be transferred and/or assumed by the NPC.   However, said initial outlay of P12 Million shall be reimbursed by NPC to the EPZA as soon as the funds for the project shall have been made available.
5. NPC shall deliver to EPZA custody and administration of the dam after its completion.

Done in the City of Manila, this 25th day of February, in the year of Our Lord, nineteen hundred and seventy-four.