A Brown Company, Inc. said Tuesday it teamed up with GET Philippines Inc. to venture into green mass transport system in Cagayan de Oro City.
ABCI said in a disclosure to the stock exchange the parties would form a joint venture company to operate and manage the ABC Electric Shuttle Service as a clean, efficient, modern and green mass transport system.
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The joint venture company will own 10 community-managed electric vehicles that will be used for the project.
ABCI said the partners would also offer the COMET electric vehicles as an effective marketing tool and platform for media and transit advertising for third parties. The joint venture company will have an authorized capital stock of P45 million, equivalent to 45 million common shares.
