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Monday, September 23, 2019

Aboitiz Group commits to growth

THE Aboitiz Group anticipates a busy year ahead, with growth and expansion to continue, mirroring the company’s thrust of growing the business while developing communities.

This year, AEV and its strategic business units aim to spend P77.6 billion in capital expenditures amid vibrant growth opportunities at home and abroad.

AboitizPower is on track to hit its goal of 4,000 MW in sellable capacity by 2020. Its current net attributable capacity is at 3,003 MW.

Fueled by local and global accolades, UnionBank aims to sustain its digital innovation initiatives, focusing on the transformation of existing branches. This year, the bank is studying the possibility of building 10 “lite” versions of The ARK, UnionBank’s fully-digital concept branch.

Pilmico, for its part, will continue to promote the growth of the backyard sector. This includes venturing into the retail market through the firm’s egg and meat depot in Tarlac, which opened in the fourth quarter last year.

Aboitiz InfraCapital continues to be on the lookout for opportunities in airports and will decide on concrete plans based on actual bidding terms, once made available, while Apo Agua’s bulk water supply project is in the final stages of its documentary requirements, with the Department of Agrarian Reform set to conduct site inspections soon. Republic Cement, anticipating strong demand, plans to expand its Luzon kilns and grinding capacity over two years, and debottlenecking activities have already started and will be completed in phases.

AboitizLand will continue its expansion efforts in Luzon and Mindanao, capitalizing on strong residential and retail demand. The Outlets at Lipa--a commercial retail development--aims to open in the first half, while there are plans to develop a mid-market residential project in Mindanao. (PR)


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