Metro Pacific to ramp up capital spending to P820B
Infrastructure holding firm Metro Pacific Investments Corp. plans to fork out P820 billion over the next five years to support an aggressive expansion program across its toll road, water, and power businesses.
A large chunk or P653 billion will go to new projects from 2018 to 2022 while the remaining amount of P167 billion will be spent on projects currently being undertaken in tollways, biogas and logistics.
Subsidiary Metro Pacific Tollways Corp. has set a capital spending program of P122.8 billion in the next five years. Among its new projects include the P23.3 billion 8-kilometer elevated NLEX-SLEX connector road project which will run from the North Luzon Expressway in Caloocan City to the South Luzon Expressway,the P16.9 billion Cavite Laguna Expressway, the P26.3 billion Cebu-Cordova Link Expressway, and the P6 billion R10 section of the NLEX Harbour Link.
As for power, the group is looking at clean coal technologies in line with its commitment to provide long-term and effective power generation throughout the country. It is also committed to seeking increased investment in renewable energy compatible with the demand profile of the Philippines.
In the water segment, Maynilad Water Services Inc. continues to explore opportunities to supply clean water in markets outside Metro Manila. It is also eyeing investments overseas.