Aboitiz InfraCapital sets P13B capital expenditures for 2021

Aboitiz InfraCapital Inc., the infrastructure arm of conglomerate Aboitiz Equity Ventures, is earmarking over P13 billion in capital expenditures for this year.

In a statement on Friday, Aboitiz InfraCapital said the capital spending plan will be used to roll out the company’s various projects, including its common towers initiative.

The 2021 capex is a 250% increase from the P3.7 billion it spent in 2020, the company said.

“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 said it plans to spend about P2.5 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, it said.

Meanwhile, P6.5 billion or majority of its capex has been set aside for water projects, particularly for the construction of Apo Agua Infrastructura Inc.’s 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, according to the company.

Aboitiz InfraCapital has also earmarked P2.8 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.

The company also allocated about 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. 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,” said Aboitiz InfraCapital president and CEO Cosette Canilao.

With its robust line-up of infrastructure projects, the company said it is well-positioned to help the economy recover from the staggering impact of the COVID-19 pandemic.—AOL, GMA News