Conglomerate Aboitiz Equity Ventures Inc. said it plans to raise capital spending this year by 83 percent to P76.7 billion from P42 billion last year to bankroll power and infrastructure projects.
AEV said in a disclosure to the stock exchange the power business unit under Aboitiz Power Corp. would allot P59 billion in capital expenditures for 2017 to increase its total capacity to 4,000 megawatts by 2020.
AEV is earmarking P8.1 billion in capital expenditures for infrastructure to fund the P12-billion Davao bulk water project.
Newly-formed infrastructure unit Aboitiz InfraCapital is also interested in various projects that the government plans to bid out, including the unbundled regional airport project and the LRT 2 operation and maintenance project.