Aboitiz InfraCapital sets P13B CAPEX, allocates P2.5B for common towers
Aboitiz InfraCapital, Inc. is earmarking over PhP13 billion in total consolidated capital expenditures (CAPEX) with its partners this year for the rollout of various projects, including its Common Towers initiative.
The CAPEX is around 250% increase from the PhP 3.7 billion it spent in 2020.
“COVID-19 may have affected our short-term plans, but we remain committed to our businesses, and to the same growth pathway and trajectory. We are here for the long haul and we will continue to take bold and deliberate steps to achieve our growth objectives,” said Aboitiz Group President and CEO Sabin Aboitiz.
In support of the government’s thrust to improve digital connectivity in the Philippines, the company plans to spend about PhP2.5 billion for passive digital infrastructure in 2021. This involves ramping up the deployment of mobile network operators’ (MNOs) small cells into its pole network and the construction of macro towers. In February, 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, PhP6.5 billion or majority of its CAPEX has been 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 Davaoeños, making it one of the largest bulk water supply projects in the country.
Aboitiz InfraCapital has also budgeted PhP2.8 billion for land acquisition and redevelopment efforts, to further consolidate its foothold in existing assets and transform its industrial parks into smart and fully integrated economic centers.
Lastly, the company allocated about PhP1.2 billion to fund the development of other projects in the pipeline.
Aboitiz InfraCapital President and CEO Cosette Canilao affirmed, “This year, we will focus on seeking, creating, recognizing, and capitalizing on opportunities. 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.”
With its robust line-up of infrastructure projects, the company is well-positioned to help the economy recover from the staggering impact of the COVID-19 pandemic.
