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Metro Pacific earmarks up to P820-billion capex in next 5 years

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By James A. Loyola

Sydney, Australia – Metro Pacific Investments Corporation (MPIC) and its subsidiaries are allotting a total of P653 billion in capital expenditures (capex) from 2018 to 2022, with the possibility of this rising to as much as P820 billion if new projects are bagged.

In a press briefing, MPIC Chief Financial Officer David Nicol said power investments of Manila Electric Company and Global Business Power will get the lion’s share of the capex amounting to P380 billion.

The firm will also be investing P125 billion for toll roads, P70 billion for rail, P45 billion for water projects, P20 billion for an energy to waste project, and P13 billion for the expansion of its hospitals business.

Aside from these, Nicol said they are pursuing other projects which will entail additional capex of P148 billion for toll roads, P15 billion for its entry into the logistics business, and P4 billion for a biogas project.

MPIC President Jose Ma. K. Lim said they are also continuing to pursue their unsolicited proposal for the rehabilitation, operations, and maintenance of the Metro Rail Transit Line 3.

Next year we are allotting P100 billion-P145 billion for the entire MVP (Manuel  V. Pangilinan) group if you include PLDT and Philex (Mining Corporation),” Nicol said.

He said the 2018 capex will include P12 billion for Maynilad Water Services, Inc., P38 billion for toll roads, P21 billion for Meralco, P6 billion for hospitals, P17 billion for light rail, and P6 billion for logistics.”

The MPIC group plans to fund the R100-billion capex through a combination of debt and equity both at the parent company and subsidiary levels, said Nicol.

Metro Pacific Tollways Corporation President Rodrigo Franco said that aside from committed projects, they are pursuing prospects that will require capex of P125 billion from 2018 to 2022 such as the C5 Expressway, NLEX Port Expressway and the Cavite-Tagaytay-Batangas Expressway.

Maynilad Chief Finance Officer Randolph Estrellado said the focus of their capex will be for the upgrading of water treatment facilities and completion of a water treatment plant to boost supply while increasing 24-hour water pressure to 16psi from the current 7psi.

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