ACI expects revenue hike this year

CEBU, Philippines — The construction arm of the Aboitiz Group expects to double its revenues this year as demand from the industrial sector continues to rise.

Aboitiz Construction, Inc., (ACI) vice president for business development Enrique B. Chuidian Jr., said that while the government's build-build-build program has yet to affect its business, the active expansion plans and new investments coming in the industrial sector have boosted the company's bottomline.

Chuidian mentioned some projects that are already in the company's pipeline, these include a power plant in Sarangani, a petrochemical plant in Bataan, a Philippine mining firm, fabrication works for Korean, Japanese, Australian, and local companies, and AboitizLand’s The Outlets commercial development in Lipa City, Batangas, among others.

As the company is leveraging on its existing Japanese and Chinese engineering, procurement, and construction partnerships, Aboitiz Construction will simultaneously work on boosting its recurring income by expanding maintenance works for industries similar to mining and shipbuilding.

The research arm of the Fitch Group has forecasted that the Philippine construction industry will steadily expand over the next 10 years, with Chinese and Japanese firms largely benefiting from greater investments and project opportunities.

The report also said that the Philippines’ construction industry will steadily expand at an average real rate of 9.8 percent between 2017 and 2026.

The research unit expects construction, engineering, and heavy industry firms from China and Japan to benefit from the local infrastructure industry’s robust growth. (FREEMAN)