MPIC to expand in Asean region

MANILA, Philippines — Metro Pacific Investments Corp. (MPIC), the listed tollways and infrastructure conglomerate of the MVP Group, is looking to expand in the region as it continues to navigate the road to recovery amid the negative impact of the COVID-19 pandemic.

MPIC president and CEO Jose Ma. Lim said the company wants to expand its footprint in Indonesia by acquiring  more toll roads.

The group, through Metro Pacific Tollways Corp.,has already opened two new roads  in Indonesia and Vietnam.

MPTC has full ownership of a toll road operator in Indonesia, PT Margautama Nusantara.

Aside from Indonesia, MPTC also has a presence in Thailand.

MPIC is also expanding its renewable energy footprint as well.

The group has a 50-megawatt solar project in Bulacan while its power generation arm Global Business Power is developing 300 megawatts of additional solar plants in Isabela, Rizal and Nueva Ecija.

It has a 500-megawatt pump storage hydro plant in Rizal.

These  projects will continue even as MPIC  reduced its capital expenditures for this year to P14 billion from P25 billion.

Lim said the company would continue to preserve its balance sheet and optimize capital allocation.

MPIC would also continue to ensure the health and safety of its employees by making excellent healthcare available to everyone, Lim said during the company’s annual stockholders meeting last week.