By Aileen Garcia-Yap
Cebu Daily News
Aboitiz Equity Ventures (AEV) will spend P42 billion this year to increase the capacity of its power-generation business.
Erramon Aboitiz, AEV president and chief executive officer, said after the AEV's annual stockholders meeting yesterday that of the P44 billion capital expenditure set for this year, P42 billion would be focused on the power-generation business while the P2 billion would be for AEV's other businesses in banking and food.
Aboitiz said the P44 billion capital expenditure this year was made possible after AEV, which is the holding company of the Aboitiz group of companies, achieved a record-high consolidated revenue increase of 113 percent in 2010 or close to P75 billion.
The AEV officials' decision to pour more investments into their power businesses was influenced by the excellent and still high growth potential for the business.
Read here
Cebu Daily News
Aboitiz Equity Ventures (AEV) will spend P42 billion this year to increase the capacity of its power-generation business.
Erramon Aboitiz, AEV president and chief executive officer, said after the AEV's annual stockholders meeting yesterday that of the P44 billion capital expenditure set for this year, P42 billion would be focused on the power-generation business while the P2 billion would be for AEV's other businesses in banking and food.
Aboitiz said the P44 billion capital expenditure this year was made possible after AEV, which is the holding company of the Aboitiz group of companies, achieved a record-high consolidated revenue increase of 113 percent in 2010 or close to P75 billion.
The AEV officials' decision to pour more investments into their power businesses was influenced by the excellent and still high growth potential for the business.
Read here
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