Section 1.    That the proceeds of the loan of one hundred seventy-six million pesos being applied for from the credit institutions hereinabove named is hereby appropriated, if and when the same shall have been granted, for the following projects:

1.    The construction of complete
    hydroelectric power plants, including
    preliminary investigations, preparation
    of technical plans and specifications,
    acquisition of equipment, materials,
    supplies and services necessary therefor,
    building of dams, reservoirs, transmission
    systems and other accessory installations at —

(a)    Ambuklao    P48,000,000.00
(b)    Itogon    70,000,000.00
(c)    Maria Cristina    23,400,000.00

2.    The diversion of the Lumot River and
    increasing the height of the dam of the
    Caliraya reservoir    6,000,000.00

3.    The erection and construction of a
    fertilizer plant    28,600,000.00
    Total    P176,000,000.00

Sec. 2.    This Act shall take effect upon its approval.  

Approved: June 1, 1948