THE CONSTRUCTION companies of the Aboitiz and Lopez families are joining forces to undertake projects in central Philippines.
In a statement, Aboitiz Construction, Inc. (ACI) and First Balfour, Inc. said they signed a memorandum of understanding “to explore potential project collaborations in the Visayas.”
The two firms will combine their expertise and resources to pursue prospects and secure contracts in the region.
“This partnership guarantees resilience and competitiveness as both can leverage on respective strengths,” said Aboitiz Construction Chairman Jaime Jose Aboitiz was quoted in the statement as saying.
Combined, Aboitiz Construction and First Balfour bring almost a century of construction experience, with strong presence in the country.
Aboitiz Construction began operations in 1975 with its head office in the Visayas while First Balfour, a Lopez-led company, started in 1969 with its headquarters in Luzon.
Aboitiz Construction is capable of doing work from conceptualization to execution and commissioning, from earth moving to marine structures, from petrochemical to world-class resorts, from warehouses to office buildings and more.
Lopez-led First Balfour has a track record in building real estate, water and transport infrastructure as well as power and energy.
The construction sector is poised for sustained rapid growth given the strong private sector activity and the roll out of the government’s P8-trillion aggressive infrastructure program — dubbed “Build, Build, Build” — that aims to decongest the Philippine capital and boost countryside development. — Krista Angela M. Montealegre