Aboitiz Group commits to 2018 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.
“Our outlook remains positive and we remain committed to grow and expand our businesses while keeping within our financial and risk parameters. We aim to deliver on our brand promise of advancing business and communities through the various products and services we provide,” said Erramon I. Aboitiz, Aboitiz Equity Ventures, Inc. (AEV) President and Chief Executive Officer.
This year, AEV and its strategic business units aim to spend P77.6 billion in capital expenditures this year amid vibrant growth opportunities at home and abroad.
AboitizPower will continue its Balance strategy, developing a mix of technologies that will allow it to deliver energy reliably, reasonably, and responsibly. With over 500 MW incoming capacity this year, from the Pagbilao Unit 3 facility which came online early this year, to the Manolo Fortich hydropower and Therma Visayas baseload plants coming online later this year, 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, as a Partner for Growth, 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 quarA ter last year. Two more depots are currently in the pipeline, with the aim of giving customers direct access to quality Pilmico Farms products.
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.