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Ayala : AC Infrastructure Equity Investments Could Double By 2020

03/30/2015 | 05:59am US/Eastern
   By Cris Larano 
 

MANILA--AC Infrastructure Holdings Corp., a unit of Ayala Corp. (AC.PH), said its five-year equity investments for energy and transport-related infrastructure--initially planned in 2011 at $1 billion--could easily double by 2020.

Ayala Infrastructure Chief Executive officer Eric Francia said the company's equity investments could actually reach $1.4 billion by next year given the six power-generation plants and three infrastructure projects that are already in process.

In all, total investments in those nine projects is already $4 billion and could increase if provisions for expansion of various power plants push through.

Mr. Francia said these infrastructure projects will only provide "meaningful [earnings] contributions" to conglomerate Ayala next year, with the bulk of the equity income to come from power generation projects. The expansion of power projects--about 1,000 megawatts in additional capacity--will depend on whether the consortia could secure markets for more electricity, he added. AC Infrastructure's target was to have power generation capacity of at least 1,000 megawatts that are attributable to it; it already has 700 megawatts.

Write to Cris Larano at cris.larano@dowjones.com; @CrisLaranoWSJ

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