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Aboitiz InfraCapital to spend over P13B on projects this year

Aboitiz InfraCapital, Inc. said Friday it targets to spend more than P13 billion on its projects, including common towers for mobile network operators, this year.

“Aboitiz InfraCapital… is earmarking over P13 billion in total consolidated capital expenditures (capex) with its partners this year for the rollout of various projects,” the company said in an e-mailed statement.

The capex budget for 2021 is more than 250% higher than the P3.7 billion the company spent last year, when the coronavirus pandemic started to ravage businesses.

Sabin M . Aboitiz, Aboitiz Group president and chief executive officer, noted the public health crisis had apparently affected the company’s short-term plans.

“But we remain committed to our businesses, and to the same growth pathway and trajectory,” he added.

The company targets to invest approximately P2.5 billion in digital infrastructure as the Philippine government and the private sector continue to work on improving the country’s connectivity to address increasing demand for digital services.

It said it recently secured a government certification, through a subsidiary, as an independent tower company allowed to build common towers for mobile network operators.

Half of the capex budget or P6.5 billion has been set aside for water projects. Such projects include the construction of Apo Agua Infrastructura, Inc.’s bulk water supply project with Davao City Water District, Aboitiz InfraCapital said.

“Once operational, Apo Agua can provide at least 300 million litres of treated water daily to over one million residents,” it added.

A budget of 2.8 billion would be used for land acquisition and redevelopment efforts while the remaining P1.2 billion would be invested in other projects in the pipeline. — Arjay L. Balinbin

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