MANILA - Aboitiz Equity Ventures has allotted P48 billion in capital expenditures for 2021 along with its partners, the company disclosed to the stock market on Tuesday.
The amount is 69 percent higher than its capex last year, Aboitiz said.
Of this total, P23 billion was earmarked for Aboitiz Power Corp for the completion of the GNPower Dinginin plant as well as the battery energy storage projects.
Meanwhile, Aboitiz InfraCapital Inc has set aside P13 billion to fund common telco towers projects and water projects.
The conglomerate is also expanding its feedmill, and real estate ventures.
Aboitiz-led Union Bank of the Philippines meanwhile has allotted more than P2 billion to boost its digital banking initiatives.
"We continue to invest in our country to support economic recovery and growth, as millions of Filipinos are relying on us - families and communities,” said Aboitiz Group president and CEO Sabin Aboitiz.