Published May 17, 2017, 10:00 PM By James A. Loyola
DMCI Holdings Inc. and its
subsidiaries, including affiliate Maynilad Water Services Inc., are allotting a
total of P42.5 billion for capital expenditures (capex) this year.
In a press briefing after the
firm’s annual stockholders’ meeting, DMCI Chief Finance Officer Herbert
Consunji said the capex amounts to P28.25 billion if excluding the P14.29
billion budget of Maynilad.
The biggest capex is the P14.29
billion programmed by Semirara Mining and Power Corporation, followed by the
P11.68 billion allotted for property developer DMCI Homes, P1 billion for DMCI
Power, P902 million for construction unit DM Consunji Inc., and P8 million for
its nickel mining businesses.
Meanwhile, DMCI is set to formally
file its arbitration case against the Bases Conversion and Development
Authority and North Luzon Railways Corporation over the failed railway project
for Luzon.
“We expect to begin the arbitration
proceedings within the year,” said DMCI Chairman Isidro Consunji. The case
stemmed from a project that is two decades old and has yet to be completed.
The company is presently looking for
a representative to the local arbitration court, after the case finally hurdled
its last obstacle following a Supreme Court ruling affirming the company’s
right to bring the government to arbiration over the project.
“That’s P300 million principal and
interest,” said Consunji of the claim that DMCI may seek from the government.
Market estimate over the present amount of the claim stands at around P900
million.
“At the end of the day, the facts
are you have an arbitration case, we have a strong case. Will the accused party
follow the verdict? Will we get paid? Maybe it will end up in court or Supreme
Court I guess,” said Consunji.
The plan was started in 1995 by the
government through the BCDA, the Philippine National Railways (PNR), and a
consortium comprised of foreign investors and local partners.
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