Vista Land eyes P27 billion capex for 2021
Vista Land & Lifescapes Inc., the Villar-owned property developer, is looking at P27 billion in capital expenditures this year, which will largely go to construction and land development......»»
FGen hikes capex after winning Casecnan bid
Lopez family’s First Gen Corporation has allotted a total of $1.1 billion in capital expenditures or capex this year to further expand its renewable energy footprint and finance a newly acquired asset. FGen chief financial officer Emmanuel Antonio Singson said this year’s budget, which was supposed to be only about $585 million, almost doubled after its unit, Fresh River Lakes Corporation, won the bid to take over the 165-megawatt Casecnan Hydroelectric Power Plant. “2023 capex total for everybody is about $585 million, $403 million of that to be exact is for the Energy Development Corp. so that’s the (development of) geothermal, battery storage and everything,” Singson told reporters during a press briefing on Wednesday. “$90 million of that is for LNG (facility) to be completed by September this year, while $50 million of that is for our Aya pump storage project. The rest is for small capex in our gas plants,” he added. But since the company won the highest bid of $526 million for the Casecnan Plant, Singson said the company had to increase its capex to sustain its operations. Fresh River Lakes’ offer surpassed the minimum bid price of the plant of $227 billion. Despite having the highest bid, the state-run Power Sector Assets and Liabilities Management Corporation noted that the company still needs to undergo a rigorous post-qualification process to verify the accuracy and authenticity of the eligibility documents submitted. Initially, eight bidders were qualified to participate in the bid opening and preliminary evaluation process. Fundamental asset FGen President and chief operating officer Francis Giles Puno pointed out that Casecnan will be a “very important asset” for the company due to its proximity to its Project Aya, a 120-megawatt pumped storage hydroelectric facility in Pantabangan, Nueva Ecija. “We needed to make sure that the Casecnan reservoir is controlled by First Gen, especially because Casecnan is upstream,” Puno said. “To that extent, we could supplement even more supply coming from the upstream side of Casecnan, then that will help Pantabangan-Masiway and Project Aya — that was fundamental,” he added. Developed in the 1990s, Casecnan Plant is a “run-of-river” type of power plant with a limited impounding area, located at Sitio Pauan, Barangay Villarica, Pantabangan, Nueva Ecija. It was covered by a build-operate-transfer agreement, which ended on 11 December 2021. Based on the government’s initial privatization timeline, the completion of the plant’s sale should have been completed last year. The post FGen hikes capex after winning Casecnan bid appeared first on Daily Tribune......»»
FGen hikes capex after winning Casecnan bid
The Lopez family's First Gen Corporation has allotted a total of $1.1 billion in capital expenditures this year to further expand its renewable energy footprint and finance a newly acquired asset. FGen Chief Financial Officer Emmanuel Antonio Singson said this year’s budget, which was supposed to be only about $585 million, almost doubled after its unit, Fresh River Lakes Corporation, won the bid to take over the 165-megawatt Casecnan Hydroelectric Power Plant. “2023 capex total for everybody is about $585 million, $403 million of that to be exact is for the Energy Development Corp. so that's the (development of) geothermal, battery storage and everything,” Singson told reporters during a press briefing on Wednesday. “$90 million of that is for LNG (facility) to be completed by September this year, while $50 million of that is for our Aya pump storage project. The rest is for small capex in our gas plants,” he added. But since the company won the highest bid of $526 million for the Casecnan Plant, Singson said the company had to increase its capex to sustain its operations. Fresh River Lakes’ offer surpassed the minimum bid price of the plant of $227 billion. Despite having the highest bid, the state-run Power Sector Assets and Liabilities Management Corporation said the company still needs to undergo a rigorous post-qualification process to verify the accuracy and authenticity of the eligibility documents submitted. Initially, eight bidders were qualified to participate in the bid opening and preliminary evaluation process. Fundamental asset FGen President and Chief Operating Officer Francis Giles Puno pointed out that Casecnan will be a “very important asset” for the company due to its proximity to its Project Aya, a 120-megawatt pumped storage hydroelectric facility in Pantabangan, Nueva Ecija. “We needed to make sure that the Casecnan reservoir is controlled by First Gen, especially because Casecnan is upstream,” Puno said. “To that extent, we could supplement even more supply coming from the upstream side of Casecnan, then that will help Pantabangan-Masiway and Project Aya — that was fundamental,” he added. Developed in the 1990s, Casecnan Plant is a “run-of-river” type of power plant with a limited impounding area, located at Sitio Pauan, Brgy. Villarica, Pantabangan, Nueva Ecija. It was covered by a build-operate-transfer agreement, which ended on 11 December 2021. Based on the government’s initial privatization timeline, the completion of the plant's sale should have been completed last year. The post FGen hikes capex after winning Casecnan bid appeared first on Daily Tribune......»»
NGCP to spend P440 billion for capex from 2021-2033
The National Grid Corp. of the Philippines has committed to spend P440 billion in capital expenditures from 2021 to 2033 to expand and strengthen the country’s transmission network......»»
SMC sets P100 billion capex for 2021
San Miguel Corp., the country’s diversified conglomerate, is pouring in roughly P100 billion in capital expenditures this year as it gears up for continued recovery following a difficult business environment last year because of the onslaught of COVID-19......»»
Torre Lorenzo sets P2 billion capex for 2021
Real estate developer Torre Lorenzo Development Corp. has set its capital expenditures at P2 billion this year, lower than its yearly P3 billion capex......»»
MPIC cuts capex for 2021 to P14 billion
Metro Pacific Investments Corp., the listed tollways and infrastructure conglomerate of the Pangilinan Group, has reduced its capital expenditures for this year to P14 billion from the previously announced P25 billion......»»
Vista Land eyes P27 billion capex for 2021
Vista Land & Lifescapes Inc., the Villar-owned property developer, is looking at P27 billion in capital expenditures this year, which will largely go to construction and land development......»»
Megaworld allots P36 billion for 2021 capex
Megaworld Corp. is setting aside P36 billion for capital expenditures this year, up 29 percent from the P27.9 billion spent last year......»»
Filinvest earmarks P21 billion for 2021 capex
Gotianun-led Filinvest Development Corp. allocated P21.2 billion for its 2021 capital expenditure as it ventures into new banking and real estate projects......»»
MPTC allots P30 billion capex for 2021
Metro Pacific Tollways Corp. is alloting more than P30 billion for capital expenditures for this year as it ramps up construction of vital infrastructure projects which are set for completion in the next two years......»»
Jollibee allots P12.2b for 2021 capex, plans to open 450 stores
Restaurant chain operator Jollibee Foods Corp. said Monday it earmarked P12.2 billion in capital expenditures this year to fund the opening of new stores as it expects sales and profit to recover in 2021......»»
DMCI Homes earmarks P16 billion for capex in 2024
DMCI Homes, the property development arm of the Consunji Group, is allocating around P16 billion in capital expenditures this year to expand its portfolio......»»
Asialink eyes P2.4 billion in truck loans as e-commerce grows
Asialink Finance Corp. is looking at lending as much as P2.4 billion this year to the fast growing market for brand new and used trucks that are essential to the growth of e-commerce and logistics......»»
CLI allots higher capex, partners with Japan firm
Cebu Landmasters Inc. is hiking its capital spending to P14.5 billion this year as it gears up for growth and expansion following a strong financial performance in 2023......»»
PBCom eyes P2 billion from new bond issue
The Philippine Bank of Communications is looking to raise at least P2 billion, with an option to oversubscribe, from the first tranche of its new peso bond program......»»
AEV hikes capex to P153 billion
Aboitiz Equity Ventures Inc. is hiking its capital expenditures by 135 percent to P153 billion this year as it gears up for another phase of growth and innovation......»»
Converge doubling capex in 2024
Broadband provider Converge ICT Solutions Inc. is doubling its capital expenditures to as much as P19 billion this year to pay for new projects that aim to improve customer experience......»»
Jollibee spending P23 billion for capex
Jollibee Foods Corp. is spending as much as P23 billion this year to sustain its growth momentum after posting strong profitability in 2023......»»
Maynilad spending P30 billion for service improvements
West Zone concessionaire Maynilad Water Services Inc. is setting aside as much as P30 billion for capital expenditures (capex) this year to continue service improvements amid the ongoing threat of the El Niño weather phenomenon......»»
Globe sets 2024 capex at P55 billion, a 5-year low
Mobile giant Globe Telecom Inc. is bringing down its capital expenditures to a five-year low of P55 billion in 2024, as the telco works on attaining a certain cost efficiency for financial health......»»