Aboitiz InfraCapital Inc. said Friday said it is spending more than P13 billion this year for the rollout of various projects, including telecommunication towers.
The company’s 2021 capital expenditure represent a 250-percent increase from P3.7 billion it spent in 2020.
“COVID-19 may have affected our short-term plans, but we remain committed to our businesses, and to the same growth pathway and trajectory,” Sabin Aboitiz, president and chief executive of Aboitiz Group, said.
“We are here for the long haul and we will continue to take bold and deliberate steps to achieve our growth objectives,” he said.
The company said to support the government’s thrust to improve digital connectivity in the country, the company would spend about P2.5 billion for passive digital infrastructure this year.
This involves ramping up the deployment of mobile network operators’ small cells into its pole network and the construction of macro towers.
An Aboitiz InfraCapital subsidiary secured a certificate of registration as an independent tower company from the Department of Information Communications and Technology in February. The subsidiary is now working on the rollout of pilot towers with MNOs.
Meanwhilethe company said P6.5 billion or majority of the capex would go to water projects, particularly for the construction of Apo Agua Infrastructura, Inc.’s 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 more than 1 million Davaoeños, making it one of the largest bulk water supply projects in the country.
Aboitiz InfraCapital also budgeted P2.8 billion for land acquisition and redevelopment efforts to consolidate its foothold in existing assets and transform its industrial parks into smart and fully integrated economic centers.
The company allocated about P1.2 billion to fund the development of other projects in the pipeline.
“This year, we will focus on seeking, creating, recognizing, and capitalizing on opportunities. With the Aboitiz Group’s strengths, nationwide presence, and legacy, we are committed to investing in projects that uplift lives and spur growth through better and integrated infrastructure facilities and services,” said Cosette Canilao, president and chief executive of Aboitiz InfraCapital.