By Krista Angela M. Montealegre, National Correspondent
AYALA CORP. (AC) is coming forward with more unsolicited proposals on transport infrastructure, as its energy subsidiary eyes expansion beyond Southeast Asia.
“We are looking at one or two other (airport) opportunities outside (Ninoy Aquino International Airport),” AC Chairman Jaime Augusto Zobel de Ayala said last week.
The Ayala group’s focus, however, remains on improving the country’s main gateway. AC is part of the “super consortium” composed of Aboitiz Equity Ventures, Inc., Alliance Global Group, Inc., Asia Emerging Dragon, Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments Corp. that filed a P350-billion proposal to rehabilitate NAIA.
“That is a big project and we will wait for the government to make a decision on it before we address other opportunities,” Mr. Zobel said.
The Department of Transportation (DoTr) has adopted the policy of bidding out the operations, maintenance, improvement and expansion of all airports under its jurisdiction, and rejected the unsolicited proposals submitted by Aboitiz InfraCapital Inc. and Chelsea Logistics Holdings Corp.
The government also turned down the offers from big business groups to develop the Clark International Airport in Pampanga after opting to finance the expansion and later turn over the maintenance and operation to the private sector.
AC Infrastructure Holdings Corp. President Jose Rene D. Almendras said in an interview the conglomerate is also working on a possible joint venture with a local government for a transport-related infrastructure project, but declined to elaborate.
NEW MARKETS
Meanwhile, AC Energy Holdings, Inc. is eyeing to broaden its geographical footprint as part of its goal to build a portfolio of energy projects with a capacity of five gigawatts by 2025.
“I’d like to be in one new market every year so we’re not only looking in ASEAN but also outside,” AC Energy President John Eric T. Francia said in an interview.
By 2025, AC Energy will have a balanced portfolio between conventional and renewable energy sources, with international assets accounting for over 40% of the business.
More than half of the planned $1 billion in new investments will be allocated for international expansion to consistently deliver double-digit growth, Mr. Francia said.
AC Energy has started to lay the foundation to be a regional player following its first overseas investment in acquiring a stake in Salak and Darajat geothermal plants in Indonesia. It has recently completed the construction of a wind farm also in Indonesia.
AC Energy has a pipeline of new projects in Vietnam, mostly in wind and solar, that is nearing financial closing. The amount of investment in Vietnam can eventually match that of Indonesia, which stands at $200 million, Mr. Francia said.
The Ayala group is aiming to generate 20% of its earnings from emerging businesses by 2020 when net profit would have reached P50 billion.
The 183-year-old conglomerate has diversified business interests that include real estate, financial services, telecommunications, water infrastructure development and manufacturing.
It has recently entered new sectors with investments in power generation, transport infrastructure development, health care, and education to align the company with the country’s development agenda.

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