MANILA - Businessman Antonio Tiu is beefing up his infrastructure ventures with foreign partners, and aggressively expanding to new areas such as medical biotechnology and financial technology.
Tiu said his firm Greenergy Holdings is in the "advanced stage" of entering into a joint venture (JV) with an Asian firm -- both aiming to improve connectivity and develop communities surrounding the $3.7-billion Makati City subway project.
Tiu's Philippine Infradev Holdings Inc. and a Chinese partner-contractor is in charge of the development of the Makati City subway, set to begin operations by 2025.
Under the joint venture in the works, Tiu said they formed Green Tunnel Boring Corp to dig and bore underground tunnels for improved connectivity from and to the Makati subway.
Newly formed Green Communities Development Corp will develop Japan and Korea-like "transient-oriented" communities beside subway stations.
"These are underground tunnels connecting community development projects to various mass transport stations. It will be an underground walkway. There could also be extensions from Makati subway to various local governments," Tiu told ANC's Market Edge on Friday.
Despite pandemic-related delays, PH Infradev and its partner will resume the Makati subway project once the country opens up to foreign arrivals.
The subway will still be delivered by 2025 as promised, Tiu said.
"There are possible hiccups in bringing in raw materials. We're looking at short term delays, but we will catch up on latter part of the [subway] project," the businessman told ANC's Market Edge on Friday.