DAVAO CITY—Davao Light and Power Co. Inc. is looking at capital expenditure of P2.4 billion in 2024 as it undertakes capacity expansion to serve the needs of customers.
Davao Light president and chief operating officer Rodger Velasco said about P200 to P250 million of the capex would be spent for underground cabling.
The underground cabling project aims to upscale the image of Davao as an internationally competitive city and enhance the safety and reliability of power and telecommunication services not only in the Kadayawan route, but also in the central business district.
“The rest for expansion and new substation, more on capacity expansion,” Velasco said.
Davao Light’s capex was about P1.5 billion to P1.6 billion annually prior to the pandemic.
“Last year, capex was close to P2 billion. We ramped up starting last year. We’re going full blast. The challenge is capacity so we are upgrading capacity,” he said.
Davao Light is a subsidiary of Aboitiz Power Corp., the holding company for the Aboitiz Group’s investments in power generation, distribution and retail electricity services. Alena Mae S. Flores