vol. 2 no. 16 published bi-monthly by sl agritech corp. nov. - dec. 2009 RP losing P30-B Bangladesh another Top Nueva Ecija Bagong patimpalak in wasted hybrid rice seed hybrid rice ng SL Agritech production site of SL farmers honored Corp. inilunsad rice yearly Page 2 Page 3 Pages 5 Page 11 Pagtatanim ng SL-8H hybrid PALAYAN CITY, Nueva Ecija – Dr. Frisco Malabanan, national coordinator of the rice, lalu pang pinalalaganap Ginintuang Masaganang Ani (GMA) hybrid rice program Malaki ang paniniwala ng teknolohiya sa pagtatanim ng of the Department of Agricul- mga magasasaka sa Munisipyo Ni JOH DUNGCA hybrid rice. ture (DA), said the bountiful ng Esperanza sa Sultan Ku- Ang nasabing field school ay harvest recently recorded Napatunayan ito kamakailan darat, na ang pagtatanim ng ginanap sa pakikipag-ugnayan by farmers in the province nang ganapin ang isang Sea- SL-8H hybrid rice variety ay son-Long Farmer Field School sa Sultan Kudarat Rice Special “deserves recognition and hindi lamang makapagpaparami (SLFFS) na dinaluhan ng 180 Agricultural Technologist sa ila- acceptance that planting the ng kanilang ani kundi maka- magsasaka sa nasabing muni- lim ng tanggapan ng Agricultural hybrid rice variety is much, pagpapaunlad din ng kanilang sipyo. Services at ng mga technician ng much higher compared to the pamumuhay, kung kaya’t nais pa Ayon kay Sitinor Asgar, SL Agritech Corp., ang producer ordinary rice variety.” nilang maragdagan ang kanilang ng kilalang SL-8H hybrid seeds. SLFFS facilitator sa Sultan Ku- kaalaman sa mga makabagong Ang SLFFS ay tinatag ng darat, ang farmer field school RECORD RICE teknolohiya sa pagtatanim ng Department of Agriculture para ay naglalayong turuan and mga nasabing uri ng palay. tulungan ang mga magsasaka sa magsasaka ng mga makabagong YIELD CITED (Sundan sa pahina 4) Malabanan was among agriculture officials present during the awarding of prizes to 10 Nueva Ecija hybrid rice farmers who were adjudged top producers of hybrid rice in this year’s dry cropping season. “It has been proven that farmers planting the high- yielding hybrid rice seeds variety will not only increase farm productivity and more than double their harvest but will also dramatically increase their income compared to Sales at marketing conference those planting the certified Makikita rito ang ilang magsasaka inbred seeds,” he said, as sa Sultan Kudarat habang nagta- ginanap ng SL sa Baguio City tanim ng hybrid rice sa pagtuturo urged the massive propaga- ni Gng. Sitinor Asgar, facilitator ng tion of hybrid rice as part of Dinaos kamakailan ng SL Agritech Corp. sa Baguio City ang Season-Long Farmer Field School the government’s efforts to (SLFFS) sa nasabing probinsiya. ikatlo nitong taunang komperensya na dinaluhan ng mga sales at achieve self-sufficiency. Ang SLFFS ay isinasagawa sa marketing personnel ng seeds division nito mula iba’t ibang panig bawa't probinsiya para palawakin ng bansa. Severino Payumo of Ca- ang kaalaman ng mga magsasaka banatuan, bested 45 other Ang limang araw (Agosto 24-28) na pagpupulong ay pinan- sa mga pamamaraan ng pagta- (Turn to page 8) tanim ng nasabing uri ng palay. (Sundan sa pahina 14) 2 GINTONG BUTIL nov. - dec. 2009 RP losing P30 billion in wasted rice yearly DUE TO LACK OF POST- Naging sikat naman HARVEST FACILITIES siya kahit papano The country is losing some development of the grains in- The holding early last May of the “Search for Hybrid Rice P30-billion in wasted rice due dustry. Highest Yielder” in Nueva Ecija, was the brainchild of Provincial to lack of post-harvest facilities Cachuela said palay farmers Agriculturist Serafin Santos to promote the benefits of hybrid such as palay dryers and rice will be saving billions of pesos rice farming. With the assistance and all-out support given by mills, according to the Bureau every year if they use efficient local and private individuals and entities, the project was, on the of Postharvest Research and drying facilities. whole, very successful, giving agriculture a big boost. To be sure, Extension (BPRE), an attached “Ang pagpapatuyo ng palay the farmers will greatly benefit from this endeavor. agency of the Department of ay isa sa pinakamaselang na Keep “it” up. Agriculture (DA). gawain matapos ang anihan. -o0o- During the drying opera- Ang porsyento ng nawawalang Sabi nga ni Dr. Santiago Obien, former executive director of tion alone, 4.5 percent of palay palay kung hindi wasto ang the Philippine Rice Research Institute (PhilRice): “Kung karamihan harvest is lost due to inadequate pagpa-patuyo ay umaabot ng sana ng ating mga provincial agriculturists ay mayroon ding ganyang klaseng proyekto para mapalaganap ang pagtatanim ng hybrid rice sa or inefficient drying facilities or limang porsyento. Kung may kani-kanilang lugar, naniniwala ako na hindi magtatagal at magiging a loss of 408,764 metric tons inaaning 16.2 milyong metriko supisyente ang ating bansa sa bigas sa lalung madaling panahon. At (MT) of milled rice. toneladang palay bawa’t taon, syempre, matitigil na natin ang pag-aangkat ng bigas sa ibang bansa “In our country’s effort to ang halaga ng nasasayang na at hindi na tayo gagasta pa ng bilyon-bilyong piso taon-taon na ang increase food production, it is palay ay mga P10-bilyon,” ganitong halaga sana ay magamit na lamang sa pagpapatayo ng mga important that we give utmost Cachuela said. estraktura sa pagsasaka.” attention to the prevention of Arnel Ramir M.. Apaga, Well said, Doc. losses through the develop- director of the agency’s training -o0o- ment of post-harvest research and extension department, said Over 1,000 farmers in 32 towns of Nueva Ecija attended the and technology,” said Ricardo BPRE is distributing this year affair which was highlighted by the giving of cash prizes and L. Cachuela, BPRE executive 688 flat bed dryers to quali- plaques of recognition to the contest winners, courtesy of Henry director. fied irrigators’ associations and Lim, chairman and chief executive officer (CEO) of SL Agritech In his report to Sec. Ar- farmers organizations all over Corp. A rice thresher, a farm tractor and a farm engine were thur Yap, Cachuela said the the country, in coordination with also given by Lim to the first, second and third prize winners, DA-BPRE initiative is part of the DA-regional field units. respectively. Others who graced the occasion were former Food Minister Jesus President Arroyo’s FIELDS The program, he said, is Tanchanco, Provincial Administrator Alejandro Abesamis, PhilRice program, which stands for aimed at uplifting the well- Executive Director Ruben Miranda; Rita O. Lim (the better half of Fertilizer, Irrigation, Exten- being of the farmers by helping Mr. Lim), Dr. Noel Mamicpic, Cathy Galura and Josie Farnacio of tion, Loans, Dryers Seeds and them reduce the drying losses SL Agritech Corp.; Dr. Santiago Obien, now with the Bureau of other postharvest facilities to in rice and, at the same time, Agricultural Research (BAR) and Dr. Ruben Sevilleja of the Central promote the full growth and (Turn to page 10) Luzon State University (CLSU). -o0o- Much has been said and written about hybrid rice – that this e miracle crop is a big boost to our rice production program, that it is profitable and that hybrid rice technology would cut down d rice importation thereby saving for the country billions of pesos every year etc. etc. i Pero marami pa ring detractors ang patuloy na naninira sa nasabing SANNY GALVEZ JOSEPHINE E. DUNGCA programa. Ganyan talaga sa bansang ito. May mga taong walang iniisip t Editor-in-Chief Managing Editor kundi ang manira kapag ang isang bagay na nakikitang umuunlad o lumalaki. Alam na alam nila ang kanilang ginagawa pero dala marahil o Contributing Editors: ng inggit kaya hindi nila mapigil ang kanilang sarili sa pagpuna. Rudy A. Fernandez Jennifer Ng Sabi nga, they oppose just for the sake of opposing and they r Conrad Cariño comment just for the sake of commenting. i Carmina Cruz Viktor Penas -o0o- We remember the statement made about a year ago by a Cabinet Jivin Relato Carlo Caluag a member that: “It is more cheaper for the government to import rice Graphic Artists Photographers than for us to produce it.” l Gintong Butil is published bi-monthly by SL Agritech Corp., Hindi lang very irresponsible ang kanyang sinabi kundi baka a division of Sterling Group of Companies, with editorial and isa siya sa kumikita sa rice importation. Sa kanyang statement na STAFF business offices at 2302 Sterling Place, Pasong Tamo Ext., ‘yon, nalagay siya sa dyaryo at siyempre, naging sikat nga naman Makati City. Telefax No. 810-1604 siya kahit paano! 3 nov. - dec. 2009 GINTONG BUTIL SIGNING OF AGREEMENT – Officials of SL Agritech Corp. and the state- Those in photo are Dr. Weijun Xu, SL Agritech vice president for international owned Bangladesh Agricultural Development Corp. (BADC), signed a memo- operation; Md Iqbal Hossain, deputy secretary of the Bangladesh Ministry of randum of agreement recently whereby SL Agritech will export an initial 500 Agriculture; Md Nuruzzman, general manager for seed, BADC; and Dr. Noel metric tons (MT) of its parental seeds to Bangladesh, becoming another hybrid G. Mamicpic, SL Agritech vice president for quality control. Witnessing the seed production site of SL Agritech. SL Agritech has been exporting the same signing rites, standing: Marshal Aaron, Josie Farnacio, former food minister seed variety to Indonesia since 2006. According to Henry Lim, chairman and Jesus Tanchanco and Cathy Galura, senior vice president for operation. CEO, his firm will also export sometime this year parental seeds to Vietnam. Bangladesh is another hybrid rice seed production site of SL Agritech NEXT SHIPMENT TO VIETNAM & NIGERIA By SANNY GALVEZ Bangladesh, one of the world’s biggest rice consuming countries, will be another hybrid seed production site of SL Agritech Corp. “We already have one in Indonesia and towards the end of this year, we will have another production farm in Vietnam,” said Henry Lim, SL Agritech Corp. chairman and chief executive officer. In a partnership agreement signed recently with the state-owned Bangladesh Agricultural Development Corp. (BADC), SL Agritech, the country’s leading hybrid rice seeds producer, is exporting an initial 500 metric tons (MT) of its parental seeds to Bangladesh. “They will produce our hybrid seeds initially in 250 hectares which will produce 500 MT of F1 or SL-8 hybrid rice seeds,” Lim said. In 2006, SL Agritech shipped 500 MT of SL-8H hybrid rice seeds to Indonesia, worked out by the firm with PT Sang Hyang Seri, an Indonesian government firm. Lim said his company will also export its high-yielding seeds to Vietnam sometime this year or early next year. With a population of 230 million, Indonesia envisions to plant up to five million hectares of hybrid rice seeds in the next five years. “Starting this year, we will no longer export our SL hybrid seeds to that country as they will already be producing them in big quantity. They have initially allocated over 1,600 hectares for the purpose,” Lim said. According to Lim, SL Agritech exported a total of 550 metric Henry Lim (right) and Dr. SM Nazul Islam shake hands after the signing of the memo agreement. At the middle is Ahm Monirul Haque, Bangladesh (Turn to page 8) Agricultural Development manager for seed production. 4 GINTONG BUTIL nov. - dec. 2009 5 nov. - dec. 2009 GINTONG BUTIL Gemma Tomas (left), chairperson of the 300-strong Pagkakaisa NE Primary Multi-Purpose Cooperative, shakes hands with Henry Lim after presenting him and Mrs. Rita Lim plaques of appreciation "Bayani ng mga Maka- bagong Magsasaka" for his invaluable support to the contract growers of Nueva Ecija. ToP NuevA ecijA rice FArmerS HoNored PALAYAN CITY – Ten Nueva Ecija farmers who were adjudged top producers of hybrid rice in this year’s dry cropping season, were honored at rites held May 29 at the Palayan Convention Hall in this city. Severino Payumo, 69, bested 45 other farmers in the province who participated in the “search for hybrid rice high- est yielder,” chalking up a record harvest of 345.6 cavans per hectare by planting the SL-8H hybrid rice variety. The barangay captain of Biliran in Cabanatuan, Payumo broke the record of 345 cavans per hectare harvested in May, 2009 by lady farmers Aida Badong of San Nicolas, Camarines Sur. Payumo was followed by Ricardo Buenaventura of Tabacao, Talavera, who produced 266 cavans per hectare, and Severino Velasquez of Barangay Sta.Rita, Jaen, who harvested 230 cavans per hectare. They also planted the SL-8H hybrid seeds variety. Henry Lim, chairman and CEO of SL Agritech corp., the country’s top producer of the SL-8 hybrid rice seeds, donated the cash prizes and a rice thresher for the first prize winner and a hand tractor and a farm engine for the second and third prize winners, respectively. Farmers Severino Payumo (upper photo, left) The other winners were Benito Guiang, Nicasio of Cabanatuan City and Ricardo Buenaven- tura (middle photo, right) of Talavera, Nueva Esguerra, Renato Manuel, Ferdinand Pobre, Paquito Agulto, Ecija were adjudged first and second prize Arturo Niro and Renato Ramos. winners, respectively, in the “search for the The search for the highest hybrid rice yielder was highest hybrid rice yielder” initiated by the initiated by the Office of the Provincial Agriculturist in Office of the Provincial Agriculturist (OPA). They are shown receiving from Henry Lim, coordination with local government agencies, among them chairman and CEO of SL Agritech Corp., the Philippine Rice Research Institute (PhilRice), National their awards at rites held recently at the Pa- Food Authority (NFA), Central Luzon State University layan City Convention Hall in Nueva Ecija. (CLSU), National Irrigation Administration (NIA), and the Payumo made a record harvest of 345.6 cavans per hectare, while Buenaventura produced Department of Agriculture Regional Field Units. 266 cavans per hectare, followed by Severino Over 2,000 farmers in the 32 towns of Nueva Ecija Velasquez who harvested 230 canvans per attended the affair which was also graced by former food hectare. They all planted the SL-8H hybrid minister Jesus T. Tanchanco, Alejandro Abesamis, provin- seeds variety produced by SL Agritech which donated cash prizes and a rice thresher for cial administrator; Serafin Santos, provincial agriculturist; the first prize winner and a hand tractor and Dr. Ruben Miranda of PhilRice; Rita O. Lim, Dr. Noel a farm engine for the second and third prize Mamicpic, Cathy Galura and Josie Farnacio of SL Agritech winners, respectively. Lower photo shows Corp.; Dr. Santy Obien of the Bureau of Agricultural Re- Serafin Santos, NE provincial agriculturist, presenting a plaque of appreciation to Lim. search (BAR); and Dr. Ruben Sevilleja of CLSU. 6 GINTONG BUTIL 7 Henry Lim (at rostrum), chairman and chief executive officer (CEO) of SL Agritech Corporation, while a meeting held at the basketball covered court at the back of the townhall. At left is Mrs. Librado explaining to farmers in Gen. M. Natividad, Nueva Ecija the benefits of planting hybrid rice seeds, during Santos, the mayor's wife and Cathy Galura, SL Agritech senior vice president for operations. SL Agritech, Ne farmers' co-op sign accord on hybrid rice seeds A partnership agreement was son of the 300-strong farmers' the office of Gen. M. Natividad to cope with the demand by farm- signed between the Pinagkaisa group and Henry Lim, chairman Mayor Librado Santos. ers nationwide. N.E. Primary Multi-Purpose Co- and chief executive officer of "We will provide them with Lim noted in the past months operative, Inc. (PNEPMC) of SL Agritech Corp., signed the all the inputs on credit and we "the growing demand of our seeds Gen. M. Natividad, Nueva Ecija, agreement which will provide will also buy all their produce by farmers all over the country." and SL-Agritech Corp., the coun- PNEPMC members with hybrid based on the prevailing market "Many farmers are planting try's top producer of hybrid rice seeds (SL-7H and SL-9H) includ- price," Lim said, adding that SL the hybrid rice because they are seeds. ing fertilizers and insecticides. Agritech Corp. is increasing the now convinced that, indeed, it has Gemma Tomas, chairper- The occasion was held at production of its hybrid rice seeds substantially increased their pro- duction and income," he said. Those who witnessed the signing rites were former food minister Jesus Tanchanco, SL SL AGRITECH 3RD ANNuAL SALES CONFERENCE-- A successful annual sales Henry Lim shakes hands with Gemma Tomas after the signing of the agreement. At left is Mayor Santos. conference was held last August 24-28, 2009 in Baguio City. Participants were the 6 GINTONG BUTIL 7 Many farmers are planting the SL-8H hybrid rice variety because they are now convinced that, indeed, it has substantially increased their production and income. a meeting held at the basketball covered court at the back of the townhall. At left is Mrs. Librado Santos, the mayor's wife and Cathy Galura, SL Agritech senior vice president for operations. Agritech officials Cathy Galura, senior vice president for opera- tions; Dr. Noel G. Mamicpic, vice president for quality con- trol; Marciano Aaron, managing consultant; Joe Santos, assistant vice president for rice operation; Donna Lim, finance manager; Joh Dungca, marketing manager; and Doy Cariño, regional sales manager Also present during the affair were Henry Tomas of the office of Mayor Santos, Florencio Sudoy, chairman of the Bagong Buhay Multi-Purpose Cooperative in Posing for a souvenir photo taken at an SL-8H hybrid rice farm in Gen. M. Natividad in Nueva Ecija. From left: Sto. Domingo, Nueva Ecija and Brian Lim, supply chain manager, rice division of SL Agritech Corp; Mars Aaron, Jess Tanchanco, Henry Lim and Bernardo Valdez, DA assistant Dr. Noel Mamicpic (right). provincial agriculturist. SL AGRITECH 3RD ANNuAL SALES CONFERENCE-- A successful annual sales sales and marketing team (seeds division), headed by senior vice president conference was held last August 24-28, 2009 in Baguio City. Participants were the Cathy Galura and vice president for quality control Dr. Noel Mamicpic. 8 GINTONG BUTIL nov. - dec. 2009 press conference Henry Lim (left), chairman and chief executive offi- cer (CEO) of SL Agritech Corp., explains to report- ers the memorandum of agreement his firm has just signed with the Bangladesh Agricultural Development Corp. (BADC). under the deal, SL Agritech will ini- tially ship 500 metric tons of its SL-8H hybrid rice seeds variety to Bangladesh, one of the world's biggest rice- consuming countries. Bangladesh is another hybrid rice seed production site of SL Agritech (From page 3) tons (MT) of SL-8H hybrid seeds Lim, however, said SL ‘Now, we rank No. 3 after to Indonesia. The same year, it Agritech will limit its seeds ex- again exported another 750 MT portation “to ensure that we will China and India as hybrid to that country as part of its ef- always have ready supply for our forts to accelerate growth in its own farmers.” rice seeds exporter.’ rice production. “It is indeed a pity kung uu- “I consider all this a big nahin pa nating makinabang ang achievement not only for SL magsasaka sa ibang bansa kesa seed variety in terms of grains earned international recognition Agritech Corp. but for our coun- sa ating magsasaka sa pagtga- yield and other physiological from the China National Hybrid try as well, since it was more tanin ng hybrid rice, kaya kami characteristics. It says the variety Rice Research and Development than 28 years ago when we first gumawa ng ganitong hakbang,” “was better than other genotypes Center for its “successful devel- exported rice to other countries. he said. and yielded more grain in direct opment and commercialization Now, we rank No. 3 after China A rice research firm has seeding condition compared to of the SL Series of hybrid rice and India as hybrid rice seeds cited the performance of SL transplanted ones. varieties in the Philippines.” exporter,” he said. Agritech’s SL-8H hybrid rice SL Agritech Corp. has also (From page 1) RECORD RICE YIELD CITED seeds variety produced by SL farmers in the province who par- Agritech Corp. ticipated in the “search for hybrid Hundreds of farmers who rice highest yielder,” chalking up participated in the contest made a record harvest of 345.6 cavans an average harvest of 180 cavans per hectare by planting the SL- per hectare. 8H hybrid rice variety. According to Malabanan, He broke the record of 344 the government’s hybrid rice cavans per hectare harvested in program is targeting to expand May 2005 by lady farmer Aida the hectarage of hybrid rice seeds Badong of San Nicolas, Cama- by 900,000 hectares for the 2009- rines Sur. 2010 period. Payumo was followed by “’Yan ang ating hectarage Ricardo Buenaventura of Tala- target this yeart till 2010 to be vera, who produced 266 cavans planted to hybrid rice. Kaya per hectare, and Severino Ve- umaasa kami dito sa DA na mas lasquez of Jaen, who harvested marami pang magsasaka ang 230 cavans per hectare. They gagamit ng hybrid seeds,” he also planted the SL-8H hybrid said. 9 nov. - dec. 2009 GINTONG BUTIL 10 GINTONG BUTIL nov. - dec. 2009 nov. - dec. 2009 GINTONG BUTIL 11 iinn ffiivvee yyeeaarrss’’ ttiimmee DDEEMMAANNDD FFOORR SSLL AAGGRRIITTEECCHH HHYYBBRRIIDD,, SSPPEECCIIAALLTTYY RRIICCEE uuPP;; SSEEEESS PP1100--BB SSAALLEESS IINN 66 YYEEAARRSS By JENNY NG Bullish over the prospects of Aside from Indonesia, where the the increase in the demand for hy- company is exporting hybrid rice brid rice seeds and specialty rice, seeds, SL Agritech also signed a SL Agritech Corp. expects net sales memorandum of agreement with could reach P10 billion in 2015. the Bangladesh Agricultural De- SL Agritech chairman and 'Our rice products are geared for the A-B market as well as the upper C market.' chief executive officer Henry Lim velopment Corp. (BADC). For fiscal year ending May, in contract growing of rice using projects that net sales for hybrid Under the agreement, SL the company sold around 130,000 the SL-8H variant. During the dry rice seeds could reach P5 billion, Agritech will assist BADC to bags of hybrid rice seeds worth season, around 2,000 hectares in while net sales for specialty rice increase hybrid rice production. more than P500 million. Laguna and Nueva Ecija were will also reach P5 billion. From 250 hectares, hybrid rice SL Agritech managing consul- planted to rice variants that will be “In five years’ time, net sales seed production in Bangladesh tant Marshal Aaron disclosed that sold by the company. of hybrid rice seeds could reach as will be expanded to a minimum of increasing demand for specialty Jasponica rice is a cross be- much as P5 billion. We’re looking 600 hectares. SL Agritech will also rice like Jasponica and Miponica tween Jasmine Thai and Japonica to expand hybrid rice seed produc- export seeds to Vietnam. The com- varietie4s marketed under the while the Miponica variety is a tion and increase hectarage where pany is already exporting hybrid Dona Maria brand will boost net cross between Milagrosa and Ja- we can produce hybrid rice seeds,” rice seeds to Indonesia. sales. sponica. Both varieties are known Lim told reporters in a recent press Lim said production for hybrid “For fiscal year ending May for their aroma and taste. briefing at his office in Makati rice may expand to around 800,000 2010, we see net sales for specialty “Our rice products are geared City. hectares in five years. The average rice to double to P500 million,” for the A-B market as well as the SL Agritech is opening new production for every hectare is Aaron said. upper C market,” Aaron said. markets for hybrid rice seeds. around two tons. He said the company engages RP losing P30 billion (From page 2) (BPRE), an attached agency to craft guidelines and action in wasted rice yearly of the DA, said the four rice plans for the conduct of post- processing centers will be built harvest research. in Sta. Barbara in Pangasinan, Meanwhile, the Korea Pototan in Iloilo, Pilar in Bohol, International Cooperation ect which is provide P104 million for the proj- and Matanao in Davao del Sur. Agency (KOICA) is providing expected not ect and the balance from the local “When finished, the farm- the Department of Agriculture only reduce government units. ers’ income will increase once (DA) a grant of P649 million post produc- “The construction of the rice they avail themselves of the for the construction of four tion losses processing centers was encour- benefits of the post harvest modern rice processing centers in the cereal aged by South Korea to promote facilities,” Cachuela said. in Pangasinan, Iloilo, Bohol but will also efficient postharvest operations Cachuela said the four rice and Davao del Sur. benefit 40 for our palay farmers through processing projects will cover Agriculture Undersecretary of the coun- mechanization and automation,” 9,292 hectares of rice farms Berna Romulo Puyat said the try’s palay- Puyat said. and will generate 2,737 jobs CACHuELA government is allocating P136 growing Ricardo L. Cachuela, execu- during the construction phase, million as counterpart to bank- provinces. tive director of Bureau of Post- and another 4,627 jobs in the roll the rice processing proj- She said the DA will likewise harvest Research and Extension next 15 years.