Aboitiz Equity Ventures remains keen on more PPP projects and government partnerships
Publicly-listed company Aboitiz Equity Ventures said it remains interested and open to bid for more public-private partnership projects as it looks at infrastructure development as a focal point in growing its business.
AEV’s land development arm Aboitiz Land and Ayala, recently submitted the highest bid for the Php 35.4 billion Cavite-Laguna Expressway project under “Team Orion”, and are currently awaiting the notice of award from the DPWH.
On top of this, AEV also received the notice of award for a bulk water supply contract in Davao, while looking at more bulk water supply projects in other parts of the country.
“ Participating in more PPP projects is in line with our thrust of focusing on infrastructure to grow our business, as well as our way of supporting the country’s own economic growth,” said AEV President and CEO Erramon Aboitiz.
The conglomerate has allotted Php 88 billion in capital expenditures this year, with Php 80 billion going to the construction of more power plants for AboitizPower.
The power company has recently operated the 14 MW Tudaya I and II hydro plants in Mindanao, and is also completing two new power plants for 2015 — the 13 MW Sabangan hydro plant in Luzon, and the 300 MW Therma South baseload plant in Davao.
Three more power plants are expected to be operational by 2017– the 52 MW Manolo Fortich hydro plants in Bukidnon, the 300 MW Therma Visayas baseload plant in Cebu and the 400 MW Pagbilao 3 plant in Luzon.
Aside from its existing portfolio, AboitizPower is also currently studying the use of solar and wind energy, to expand its energy sources.
“We hope that our continued investments in energy infrastructure would help ease threats of a possible power supply shortfall for the country,” added Aboitiz.
AEV’s power business is implementing a five year plan which began in 2012, to double its capacity from the current 2000 MW in attributable capacity to over 4,000 MW in attributable capacity in 2017.
Aboitiz Equity Ventures (AEV) listed in the Philippine Stock Exchange (PSE) in 1994 as the public-held holding company of the Aboitiz Family. It has major investments in power, banking, food, and land. Since its IPO, AEV has been recognized by various local and international surveys and publications as among the Philippines’ best managed companies. AEV has likewise received numerous awards for its corporate governance practices.