Section 1
SECTION 1. Subject to the conditions imposed by this Act, there is hereby granted to Oceanic Fisheries (Phil.) Inc., its successors or assigns, for a period of twenty-five years after the approval of this Act, the right, privilege and authority to construct, operate and maintain an ice plant or ice plants and cold storage facility or facilities in the City of Cebu, for the purpose of manufacturing ice and furnishing cold storage, and to sell and distribute the ice so manufactured and render cold storage service therein, and to collect a schedule of rates, prices and charges for the ice so manufactured, distributed and sold, and for the cold storage service furnished, which schedule of rates, prices and charges shall at all times be subject to regulation by the Public Service Commission.