This amount is one-third lower than the originally-set capex of P73 billion, according to an emailed press release from the Aboitiz Group. The reduction in the group’s capex takes into consideration the impact on the group’s and country’s future growth.
Aboitiz Power Corporation’s ongoing GNPower Dinginin Unit 1 project is set to synchronize by the 4th quarter and start commercial operation by the 1st quarter next year. The Unit 2 component will synchronize by the first quarter of 2021 and will start commercial operations by the second quarter of 2021.
According to Union Bank president and chief executive officer Edwin Bautista, the crisis has accelerated the coming of the digital world as it experienced a tenfold-increase in the number of digital customers during the ECQ. The Aboitiz InfraCapital Inc. is now studying the impact of the pandemic on its projects, especially in the airport sector. Its bulk water supply unit, the Apo Agua Infrastructure Inc., is closely coordinating with its contractors to determine which specific work streams can be implemented amid Davao City’s ECQ, recovery time, and any implications on obligations with Apo Agua’s partners.
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