Ayala Corp. allots up to $700-M for energy projects

Posted at 04/19/13 11:40 AM

MANILA (UPDATE) -- Ayala Corp. has allotted around $600-700 million for its energy projects up to 2016.

"The $1-billion investment is for combined power and infrastructure, and 60- to 70 percent will go to power and the balance on infrastructure," Eric Francia, director at Ayala, said during the conglomerate's annual stockholders' meeting.

Francia noted that $300 million was already committed at various energy projects, such as the South Luzon Thermal venture, and wind and hydro projects.

He said the firm has a pipeline of other conventional and renewable projects although he gave no specific details on such.

In a press conference following Ayala's annual stockholders' meeting, Francia explained the $1-billion investment on the groups' energy and infrastructure ventures may be adjusted higher, "according to opportunities."

In terms of infrastructure, Ayala has been keen on participating in various public-private partnership projects of the government such as the LRT-1 Cavite extension, the Mactan-Cebu International Airport project, and the Cavite-Laguna expressway.