Aboitiz InfraCapital, Inc. has increased its 2021 capital expenditures (capex) by 250 per cent to P13 billion, with P2.5 billion alloted for common towers.

“COVID-19 may have affected our short-term plans, but we remain committed to our businesses, and to the same growth pathway and trajectory,” said Aboitiz Group President and CEO Sabin Aboitiz.

“We are here for the long haul and we will continue to take bold and deliberate steps to achieve our growth objectives,” he added.

Supporting government’s thrust to improve digital connectivity in the Philippines, the company earmarked P2.5 billion specifically to deploy mobile network operators’ (MNOs) small cells into its pole network and to construct macro towers. 

Last month, an Aboitiz InfraCapital subsidiary secured its Certificate of Registration as an Independent Tower Company from the Department of Information Communications and Technology (DICT). 

The subsidiary is now working on the rollout of its pilot towers with MNOs.

Meanwhile, most of its capex,  P6.5 billion, was set aside for water projects, particularly for the construction of Apo Agua Infrastructura, Inc.’s (Apo Agua) bulk water supply project with Davao City Water District (DCWD). 

Once operational, Apo Agua can provide at least 300 million litres of treated water daily to over one million DavaoeƱos, making it one of the largest bulk water supply projects in the country.

Aboitiz InfraCapital has also budgeted P2.8 billion for land acquisition and redevelopment efforts to consolidate its foothold in existing assets and transform its industrial parks into smart and fully integrated economic centers.

The company also allocated P1.2 billion to fund the development of other projects in the pipeline.

“This year, we will focus on seeking, creating, recognizing, and capitalizing on opportunities,” declared Aboitiz InfraCapital President and CEO Cosette Canilao.

“With the Aboitiz Group’s strengths, nationwide presence, and legacy, we are committed to investing in projects that uplift lives and spur growth through better and integrated infrastructure facilities and services,” she expounded.

With its  line-up of infrastructure projects, the company is well-positioned to help the economy recover from the staggering impact of the COVID-19 pandemic.

Aboitiz InfraCapital, Inc., the infrastructure arm of the Aboitiz Group, develops fully integrated economic centers as well as water, digital infrastructure, and transport and mobility projects that advance businesses and communities. 

Its current business units include the Aboitiz Integrated Economic Centers in Batangas and Cebu, Apo Agua Infrastructura, Inc. in Davao, and Lima Water Corporation in Batangas. 

The company also has a minority stake in Balibago Waterworks System, Inc., a privately-owned waterworks utility system based in Pampanga.

Aboitiz Equity Ventures, Inc. (AEV) is the public holding company of the Aboitiz Group with major investments in power, banking and financial services, food, infrastructure, and land. 

Today, AEV is one of the best-managed companies in the Philippines and the region, cited for its commitment to good corporate governance and corporate social responsibility. 

With five generations of Aboitiz Group business success behind it, AEV continues to drive change for a better world by advancing business and communities.

To date, the Aboitiz Group has contributed over P2.2 billion for its COVID-19 response efforts.

This excludes various payments waived, reduced, extended, or restructured to help customers cope with the impact of COVID-19.

Source: Manila Bulletin (https://mb.com.ph/2021/03/12/aboitiz-infracapital-hikes-2021-capex-by-250/?utm_source=rss&utm_medium=rss&utm_campaign=aboitiz-infracapital-hikes-2021-capex-by-250)