Meralco Bares P95-B 7-Year Expansion
Singapore - Manila Electric Company (Meralco) is spending up to P94.7 billion from 2013 to 2019 for the expansion of its distribution network as well as the development of its power generation business.
In a media presentation, Meralco president Oscar Reyes said P65 billion of the capital expenditures for the period will be for the distribution utility business while the balance will be for the power generation business.
"Meralco is in full gear to make all of these plans a reality. With our firm commitment to pursue these projects and bring our growth pillars to the forefront of building the country," Reyes said.
He added that the P94.7 billion capex "would power the nation to sustain its growth trajectory leading to a brighter and more progressive Philippines."
Reyes said "we want to be in power generation to contribute to a more stable supply and to lower prices we hope to expand our franchise area. With our critical mass we hope to bring efficiencies in distribution."
For its distribution utility, Reyes said Meralco has lined up P245 billion worth of projects of which their estimated capital investment amounts to P65 billion. …