Metro Pacific sets sights on Mindanao investments

MANILA, Philippines - Metro Pacific Investments Corp. (MPIC) is gearing up for new investments in Mindanao amid ongoing security concerns in the region, its top official said.

During the company’s annual stockholders meeting yesterday, MPIC chairman Manuel Pangilinan said the infrastructure and tollways conglomerate has lined up projects for Mindanao.  

 “Yes, expect an announcement soon,” he said.

While Pangilinan declined to disclose details yet, he said it would be “within MPIC’s existing business” portfolio.

MPIC is into power, water, toll roads, hospitals, light rail and logistics.

Mindanao has been placed under martial law for a period of 60 days following clashes between government forces and a group inspired by the so-called Islamic State in Marawi City.

 “It is a cause for concern so we need to understand the situation probably better, but we need to have faith in the country and in the leadership. Most likely it (the project) will proceed because it is a long-term investment,” Pangilinan said.

Aside from the its upcoming Mindanao project, Pangilinan said MPIC is also looking at various unsolicited projects and remains supportive of the government’s public-private partnership program.

 “When we started MPIC, infrastructure did not have the cachet it does today. The growing focus on infrastructure has been good for the country and was boosted by transfer of technology from our partners and cheaper funding for projects,” he said.

“With a new government in place, a new vista of opportunities has opened up. We feel there is much to look forward to in the years to come, and the company remains committed to enabling progress and contributing significantly to nation-building by being the quintessential infrastructure business,” Pangilinan added.

MPIC is the sole dedicated infrastructure group in the Philippines. Its portfolio includes the largest power distribution franchise, the largest water distribution concession, over 50 percent of the toll roads in the country, a nationwide network of 13 hospitals, and an existing 20-kilometer light rail line in Metro Manila.