The construction unit of Aboitiz Equity Ventures Inc. has projected revenues to reach P7.5 billion in 2020, driven by new contracts from big infrastructure projects.
“We are forecasting before the end of the year we will end with about another P6.5 billion and P7.5 billion for next year,” said Aboitiz Construction Inc. president and chief operating officer Albert Ignacio Jr.
Aboitiz Construction last year posted a total revenue of P5.5 billion.
Ignacio said the growth driver would come from new market opportunities, such as infrastructure and logistics.
He cited that JG Summit Holdings Inc. was expanding its propylene plant in Batangas.
“It’s a big project, and I think because of the size, they need to have their own power plant. Right now we are working inside, we are doing significant work inside the plant—electrical, mechanical, erection of structures—we are doing it for JG Summit. (Before construction is finished), they (will) need more power, so they plan to build their own power plant, we are also looking at that,” Ignacio said.
Early this month, Aboitiz Construction completed the expansion of the shipbuilding facilities of Austal Philippines that involved the design and construction of six assembly bays, including the recently-inaugurated John Rothwell Assembly Bay, all based in Austal’s shipyard in Balamban, Cebu.
Aboitiz Construction’s work covered Bays 4, 5, 6, 7, 9 and 10. The expanded facility aims to meet the growing demand for commercial and defense vessels, including the manufacture of large, high-speed aluminum passenger and vehicle passenger ferries.
The John Rothwell Assembly Bay is an impressive structure measuring 120 meters long, 43 meters wide and 41 meters tall. It is designed to accommodate large vessel projects for hull assembly, final outfitting and painting capacity.
The company, meanwhile, signed a deal with a unit of Metro Pacific Investments Corp. to build a modern logistics hub in Cavite province.
Aboitiz Construction will design and construct the South Mega Distribution Center, a modern logistics hub that will rise along a stretch of land in General Trias, Cavite.