Philippines’ Ayala in $1b expansion drive

Reading Time: 2 minutes

Philippine conglomerate Ayala Corp. said it plans to increase its presence in the power, infrastructure and education sectors as it expands in the medium term and has earmarked $1 billion for that reason, Businessworld reported.

Ayala Chairman and CEO Jaime Augusto Zobel de Ayala told reporters on April 4 that the country’s oldest conglomerate was looking at new opportunities beyond its core real estate, banking, and telecommunications businesses.

“We wanted new opportunities that had scale, that would be aligned to the national development agenda,” Ayala said.

Ayala, which is celebrating its 180th year, owns the country’s largest property developer, Ayala Land, Inc. It also owns the country’s biggest bank by capital – Bank of the Philippine Islands – as well as a leading telecommunications provider Globe Telecom, Inc.

Ayala said he believed the holding firm had the balance sheet to contribute to nation building, and would be taking on partners to bid for key government projects. The firm has said that it had earmarked $1 billion for planned power and infrastructure investments until 2016.

The company was “more than halfway” through its target of building 1,000 megawatts of capacity by next year. So far, Ayala’s AC Energy Holdings Inc. has acquired stakes in a 270-MW coal plant in Batangas, a 33-megawatt wind farm project in Bangui, Ilocos Norte and another 81-megawatt wind farm project, also in Ilocos Norte.

AC Energy has also completed the acquisition of a 17 per cent stake in GNPower Mariveles Coal Plant Ltd. Co., the owner of a 600-megawatt coal-fired generating plant in Mariveles, Bataan.

Ayala said the company planned to bid for the Cavite-Laguna Expressway road project and the Light Rail Transit Line 1 Cavite extension project.

Ayala’s infrastructure unit, AC Infrastructure Holdings Inc., won a bid to construct the four-kilometer Daang Hari-South Luzon Expressway connector road in 2011. The project is expected to be completed by the end of this year.

Ayala – via the AF Consortium and with conglomerate Metro Pacific Investments Corp. – last week also formally received the award to design and construct the Automatic Fare Collection System Project for LRT-1 and two other Metro Manila light railways. The new fare system will be implemented by the third quarter of next year.

The company also plans to increase its presence in the education sector. Ayala announced last February that it has forged an agreement with London-based Pearson to build a chain of high schools in the Philippines. Pearson is considered as the world’s leading education company and is a member of the Financial Times Group.

“Education is of interest to us, and we’d like to participate in that space,” Ayala said.

“There is a strong global demand for Filipino talent and our vision is to deliver high-quality, affordable education that can significantly enhance students’ employment potential.”

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 2 minutes

Philippine conglomerate Ayala Corp. said it plans to increase its presence in the power, infrastructure and education sectors as it expands in the medium term and has earmarked $1 billion for that reason, Businessworld reported.

Reading Time: 2 minutes

Philippine conglomerate Ayala Corp. said it plans to increase its presence in the power, infrastructure and education sectors as it expands in the medium term and has earmarked $1 billion for that reason, Businessworld reported.

Ayala Chairman and CEO Jaime Augusto Zobel de Ayala told reporters on April 4 that the country’s oldest conglomerate was looking at new opportunities beyond its core real estate, banking, and telecommunications businesses.

“We wanted new opportunities that had scale, that would be aligned to the national development agenda,” Ayala said.

Ayala, which is celebrating its 180th year, owns the country’s largest property developer, Ayala Land, Inc. It also owns the country’s biggest bank by capital – Bank of the Philippine Islands – as well as a leading telecommunications provider Globe Telecom, Inc.

Ayala said he believed the holding firm had the balance sheet to contribute to nation building, and would be taking on partners to bid for key government projects. The firm has said that it had earmarked $1 billion for planned power and infrastructure investments until 2016.

The company was “more than halfway” through its target of building 1,000 megawatts of capacity by next year. So far, Ayala’s AC Energy Holdings Inc. has acquired stakes in a 270-MW coal plant in Batangas, a 33-megawatt wind farm project in Bangui, Ilocos Norte and another 81-megawatt wind farm project, also in Ilocos Norte.

AC Energy has also completed the acquisition of a 17 per cent stake in GNPower Mariveles Coal Plant Ltd. Co., the owner of a 600-megawatt coal-fired generating plant in Mariveles, Bataan.

Ayala said the company planned to bid for the Cavite-Laguna Expressway road project and the Light Rail Transit Line 1 Cavite extension project.

Ayala’s infrastructure unit, AC Infrastructure Holdings Inc., won a bid to construct the four-kilometer Daang Hari-South Luzon Expressway connector road in 2011. The project is expected to be completed by the end of this year.

Ayala – via the AF Consortium and with conglomerate Metro Pacific Investments Corp. – last week also formally received the award to design and construct the Automatic Fare Collection System Project for LRT-1 and two other Metro Manila light railways. The new fare system will be implemented by the third quarter of next year.

The company also plans to increase its presence in the education sector. Ayala announced last February that it has forged an agreement with London-based Pearson to build a chain of high schools in the Philippines. Pearson is considered as the world’s leading education company and is a member of the Financial Times Group.

“Education is of interest to us, and we’d like to participate in that space,” Ayala said.

“There is a strong global demand for Filipino talent and our vision is to deliver high-quality, affordable education that can significantly enhance students’ employment potential.”

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid