Aboitiz InfraCapital Inc. has earmarked over P13 billion for capital expenditure (capex) this year for the rollout of various projects, including its common towers initiative.
The capex this year is around 250 percent higher than the P3.7 billion spent in 2020.
Bulk of the capex, amounting to P6.5 billion, has been set aside for water projects, particularly for the construction of Apo Agua Infrastructura Inc.’s bulk water supply project with Davao City Water District.
Aboitiz InfraCapital also plans to spend about P2.5 billion for passive digital infrastructure in 2021. This involves ramping up the deployment of mobile network operators’ (MNO) small cells into its pole network and the construction of macro towers.
In February, an Aboitiz InfraCapital subsidiary secured its certificate of registration as an independent tower company from the Department of Information and Communications Technology. The subsidiary is now working on the rollout of its pilot towers with MNOs.
Aboitiz InfraCapital, in partnership with Frontier Tower Associates Philippines Inc., signed a memorandum of understanding with Smart Communications Inc. for the construction of shared towers in Visayas and Mindanao.
Meanwhile, Aboitiz InfraCapital has also budgeted P2.8 billion for land acquisition and redevelopment efforts, to further consolidate its foothold in existing assets and transform its industrial parks into smart and fully integrated economic centers.
Lastly, 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, Aboitiz InfraCapital president and chief executive officer (CEO).
With its robust line-up of infrastructure projects, the company said it is well-positioned to help the economy recover from the staggering impact of the coronavirus disease 2019 (COVID-19).
“COVID-19 may have affected our short-term plans, but we remain committed to our businesses, and to the same growth pathway and trajectory. We are here for the long haul and we will continue to take bold and deliberate steps to achieve our growth objectives,” said Sabin Aboitiz, Aboitiz Group president and CEO.