Aboitiz InfraCapital Inc. is earmarking around P20 billion in capital expenditure (capex) to roll out expansion plans and projects next year.
“The bulk of our capex would be for economic estates and our digital infra business,” Aboitiz InfraCapital president and CEO Cosette Canilao said at a virtual press briefing on Friday.
The company’s capex next year is 54% higher compared to the P13 billion it earmarked for 2021.
Aboitiz InfraCapital’s “economic estates” or its integrated economic centers business operates industrial townships LIMA Estate, Mactan Economic Zone 2 Estate, and West Cebu Estate.
In a separate statement, the company said that expansion plans for LIMA and West Cebu Estate are underway, which are expected to yield up to 89,000 jobs combined.
Its economic estates unit is estimating that LIMA’s industrial expansion alone will bring in P10.3 billion worth of inventory.
The company is also aiming to complete over 1,000 common cellular towers by 2022.
Aboitiz InfraCapital’s digital infrastructure arm Unity Digital infrastructure Inc. is expecting to spend around P5 billion to P6 billion for the completion of 1,000 cell towers.
Unity Digital is a joint venture between Aboitiz InfraCapital and global private markets firm Partners Group.
The company is also looking at having more than 350 small cells by year-end with new market Subic.
“Small cells are low-powered short-ranged antennas that help mobile network operators address capacity and congestion issues,” said Rafael Aboitiz, general manager of Aboitiz InfraCapital’s small cell sites business. — VBL, GMA News
Aboitiz InfraCapital earmarks P20 billion for 2022 capex
Source: News Panda Philippines
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