Pursuits
Aboitiz Looks at Vietnam, Myanmar as Glut Hits Home
- Company to invest $4.5 billion in Philippine power until 2020
- Aboitiz to expand cement capacity, seeks rail and airports
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Aboitiz Power Corp. will build plants in Indonesia and scout for ventures in Vietnam and Myanmar as the Philippines’ second-largest electricity producer expands in Southeast Asia, while expecting an oversupply at home.
The company would spend an estimated $4.5 billion to add 1,600 megawatts of capacity and help meet its target of a 4,000-megawatt portfolio in its home country by 2020, Chief Executive Officer Erramon Aboitiz said. It may invest $500 million in equity for projects in Southeast Asia in five years, he said.