Manila Bulletin
July 18, 2012, 5:17pm
MANILA, Philippines — Ayala Corporation has completed the sale of P6.45 billion worth of treasury shares as part of plans to beef up its war chest as it looks to invest up to US$1 billion in the transport infrastructure and power generation sectors over the next five years.
In a disclosure to the Philippine Stock Exchange, the firm said it has completed the placement of 15 million common shares held in its treasury. The shares were priced at P430 per share.
“The company is in a phase of active investment and is eyeing to build new businesses in power and transport infrastructure,” said Ayala President Fernando Zobel de Ayala.
He explained that, “in the same manner Ayala invested in the telecom and water sector in the past, we believe the power and infrastructure sectors are critical for the country’s growth and development.”
“We hope to be able to contribute in some measure to the development of these sectors and at the same time create future sources of earnings and value for the group,” Zobel said.
Ayala has set its sights on toll road, rail, and airport projects under the government’s public private partnership program (PPP).
On top of the Daang Hari–SLEX Connector road which Ayala won last December 2011, the company expressed interest to participate in other PPP projects expected to be bidded out soon.
Projects of interest to the group include the NAIA Expressway, the Cavite-Laguna (CALA) Expressway, and the LRT Line 1 extension and O&M (operation and management).
Ayala said it is also keen to participate in the development of airports such as the Mactan Cebu International Airport.
In the power generation sector, Ayala has established a platform of conventional and renewable technologies and has committed around US$100 million of equity on approximately 180 megawatts of gross generating capacity.
It began construction of a 135-megawatt CFB thermal plant in Calaca, Batangas in partnership with the Phinma group’s Trans Asia Oil and Development Corporation. It is also currently working on a possible second phase of expansion of the plant.
Ayala is also gradually building its portfolio of renewable energy sources in solar, wind and hydro technologies. It also continues to actively pursue a robust pipeline of greenfield projects and acquisition opportunities in the power sector.
Ayala also continues to explore opportunities in other markets in the region. It recently acquired a 10 percent stake in Ho Chi Minh Infrastructure Investment Co. (CII), a leading player in the infrastructure sector in Vietnam.
Ayala believes this investment provides strategic access to other infrastructure opportunities which allow the Ayala group to establish a presence across several sectors in Vietnam. source
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