Business and Economy
Aboitiz Equity to spend P60-B for 2019 projects
The Apo Agua bulk water project in Davao City is a joint venture between the Aboitiz Group and J.V. Angeles Construction Corp. (Photo from Aboitiz/Website)
MANILA — Conglomerate Aboitiz Equity Ventures Inc. (AEV) is earmarking PHP50 billion to PHP60 billion in capital expenditures (capex) for 2019, same as this year’s budget, with the bulk going to its power business unit as it expands here and overseas.
“The bulk (of the amount) will be for power, but now we already have Apo Agua for water, that’s gonna be pretty big also. Land (subsidiary) has several projects that we started. So, I think now, you are going to see a little bit more coming from the other subsidiaries as well,” AEV Senior Vice President and Chief Financial Officer Manuel Lozano told reporters last week.
The Apo Agua bulk water project in Davao City is a joint venture between the Aboitiz Group and J.V. Angeles Construction Corp.
Lozano said the group’s power and food business units are working on several projects in other countries.
“In the power side, there are a lot of things, we’re also looking at those countries, Indonesia, Malaysia, and Myanmar. Those are the ones we have a lot of projects that we are looking at,” he noted.
“But Vietnam, they have a lot of solar, wind projects that we’re looking at. And Indonesia all kinds from geothermal, to solar, to hydro, so we would like to see where we can do things,” he added.
Lozano also sees a lot of renewable energy opportunities in the country, as it looks at more projects in the solar power.
“We’re bringing guys who understand hydro, solar, and wind. At least get them moving in 2019 and maybe within the next two to three years, start to bring more in the renewable, greenfield renewable projects,” he said.
