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ABOITIZ GROUP SETS P2.5 BILLION TOWER ROLL OUT
- By The Financial District
- Mar 14, 2021
- 2 min read
The Aboitiz Group has allotted P2.5 billion for its common towers initiative to bring its outlay for capital expenditures at P13 billion for this year.
Aboitiz InfraCapital (Aboitiz), its infrastructure arm said it is investing what it termed as "passive digital infrastructure" which involves ramping up the deployment of mobile network operators’ (MNO) small cells into its pole network and the construction of macro towers.
Earlier, Aboitiz InfraCapital 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,” Aboitiz said.
Meanwhile, PHP6.5 billion, or the majority of its CapEx for this year, has been earmarked for water projects, particularly for the construction of Apo Agua Infrastructura, Inc.’s (Apo Agua) bulk water supply project with Davao City Water District.
“Once operational, Apo Agua can provide at least 300 million liters of treated water daily to over one million Davaoeños, making it one of the largest bulk water supply projects in the country,” Aboitiz said.
The company also set aside PHP2.8 billion for land acquisition and “redevelopment efforts” to further consolidate its existing assets and transform its industrial parks into “smart and fully integrated economic centers.”
The remaining PHP1.2 billion, it said, will fund the development of other projects in the pipeline. The PHP13-billion CapEx, it said, is a 250-percent increase from PHP3.7 billion it spent in 2020.
Aboitiz Group president and chief executive officer Sabin Aboitiz said while COVID-19 has affected the company’s short-term plans, the company remains committed to its businesses.
“We are here for the long haul and we will continue to take bold and deliberate steps to achieve our growth objectives,” Aboitiz said.
Aboitiz InfraCapital Inc. develops fully integrated economic centers, water, digital infrastructure, and transport and mobility projects that “advance business 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.
