Aboitiz InfraCapital earmarks P20 billion for 2022 spending

MANILA, Philippines — Aboitiz InfraCapital Inc. will undertake a more aggressive capital spending next year as the company gears up for further growth in line with a rebranding initiative.

Aboitiz InfraCapital president and CEO Cosette Canilao in a virtual briefing yesterday said the company is setting aside  P20 billion for capital expenditures for 2022.

The company   earmarked P13 billion in total consolidated capex for this year   for the rollout of various projects, including the company’s  newest venture into common towers.

Canilao said the bulk of the capex for next year would be allocated for its economic estates and digital infrastructure business.

“We want to establish Aboitiz InfraCapital as a full-pledged strategic business unit within the Aboitiz group. The fifth leg with a unique, impactful, market-relevant brand identity and to be known as a reliable partner for growth, dedicated to nation building and uplifting the lives of Filipinos,” she said.

Optimistic about the country’s sustained economic recovery and demand for more infrastructure solutions, Aboitiz InfraCapital and its business units unveiled yesterday a fresh brand identity that reflects the group’s ambition to be the country’s top of mind in infrastructure solutions.

The company’s goal is to further grow its business in the coming years by proactively participating in project opportunities in the industrial development, water, digital infrastructure, and transport sectors.

Aboitiz InfraCapital said the new branding marks a new chapter in the company’s young history, and represents its commitment to further invest in new projects that would bolster progress and economic growth.

Its integrated economic centers are rebranding to “economic estates” and will individually be known as LIMA Estate, Mactan Economic Zone 2 Estate and West Cebu Estate.

The change comes as expansion plans for LIMA and West Cebu Estate are underway which are expected to yield up to 89,000 jobs combined.

LIMA’s industrial expansion alone is expected to bring in P10.3 billion worth of inventory.

Apo Agua Infrastructura Inc., for its part, is on track to begin operations in 2022, despite the pandemic’s  impact on  construction activities.