Business Mirror
April 24, 2006
AEV to split P2-B capex for transport, power projects
By Honey Madrilejos-Reyes
Correspondent
CEBU-based Aboitiz Equity Ventures (AEV) is setting an operating capital expenditure (capex) of P2 billion this year to be spent mostly for its transport and power businesses.
In an interview, AEV president and chief operating officer Jon Ramon Aboitiz said the amount would be equally split between the needs of its two major units.
Aboitiz disclosed plans of its power subsidiary to bid for the hydroelectric-power assets of the state-owned National Power Corp. (Napocor), such as the Masiway and Pantabangan assets. It is also planning to operate a 200-megawatt coal-fired power plant to serve the requirements of its company-owned Visayan Electric Co. (VECO).
“Aboitiz Power has entered into a joint venture with SN Power of
Aboitiz Power’s investments in power generation include hydroelectric and diesel-fired power plants.
It also has investments in a number of utilities located in different parts of the country. Aside from VECO, other companies are Davao Light and Power, Cotabato Light and Power Co., San Fernando Electric Light and Power Co. and Subic Enerzone Corp.
For its transport business, AEV has established the Aboitiz Transport System, considered as the largest land and sea transport and logistics company in the
Apart from power and transport, AEV’s core investments also include banking and food manufacturing.
Early this year, AEV secured a P2.2-billion loan with the Bank of the Philippine Islands to finance its expansion programs.
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